KPMG Australia will cut 27 partners and about 360 employees, or roughly 5% of its workforce, mainly in consulting, after total revenue fell 1% to A$2.257 billion for the year ended June 30. Consulting revenue dropped 16.9% amid weak market conditions and reduced government use of consultants, although four of the firm’s five divisions grew. The cuts also follow allegations that KPMG personnel misused confidential Lendlease board papers in pursuit of audit tenders. KPMG has agreed not to bid for new Commonwealth work until an independent Department of Finance review, expected to conclude by the end of September. The firm is merging teams and aligning them more closely with KPMG’s global advisory business, while broader layoffs continue across technology, professional services and crypto.