KPMG to layoff 400 employees in South Africa after graft scandal

KPMG to layoff 400 employees in South Africa after graft scandal

Global auditor KPMG said on Monday it will layoff 400 people as it closes offices in South Africa following a corruption scandal that resulted in the firm losing several major clients.

FILE PHOTO: The offices of auditors KMPG are seen in Cape Town, South Africa
FILE PHOTO: The offices of auditors KMPG are seen in Cape Town, South Africa, September 19, 2017. Picture taken September 19, 2017. REUTERS/Mike Hutchings/File Photo

JOHANNESBURG: Global auditor KPMG said on Monday it will layoff 400 people as it closes offices in South Africa following a corruption scandal that resulted in the firm losing several major clients.

“These hard decisions were necessary to put the firm on a more sustainable footing, while ensuring we continue to offer our clients the best service and support," Nhlamulo Dlomu, chief executive of KPMG South Africa, said in a statement.

KPMG has been under close scrutiny since 2017 over work done for a company owned by the Gupta family - who have been accused of using their links to former president Jacob Zuma to influence government decisions.

(Reporting by Nqobile Dludla; Editing by Joe Brock)

Source: Reuters

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