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KPMG extends pay freeze to 12,000 UK staff [Financial Times]
Bosses at the Big Four accountancy firm told staff across its four divisions in recent weeks that they would not receive a pay rise this year unless they were promoted, according to people familiar with the matter. The move comes just weeks after KPMG — where UK partners last year earned on average £717,000 — launched a fresh round of job cuts and froze pay in its deals advisory arm following a prolonged slowdown in dealmaking. UK inflation stood at 4.6 per cent in October, meaning a freeze will result in real-term…
