KPMG staff offered sabbaticals or four-day weeks

One of the world’s leading accountancy firms, KPMG, is the latest to suffer during the economic downturn after it offered its 11,000 staff sabbaticals or a shorter working week.

In an email earlier today, staff were told they have the option of moving onto a 4-day week, with the fifth day unpaid.

According to the accountancy firm, the proposal is a ‘contingency‘ that is designed to help the group avoid a redundancy programme and staff were not forced to accept the sabbatical.

The group said it is trying to avoid compulsory redundancies because it wants to be in a strong position when the country comes out of the recession.

The news is almost certain to drive fear into similar companies as the announcement shows that professional services firms are not immune from the downturn.

Earlier this week, the Confederation of British Industry said up to 25,000 jobs will be lost in the financial sector in the next six months.

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