KPMG chairman ‘sorry’ for telling staff to ‘stop moaning’ about working conditions
KPMG UK chairman Bill Michael has apologised after telling consultants to “stop moaning” about working conditions during the pandemic.
In a virtual meeting on Monday, members of KPMG’s consulting team told Michael they were worried about potential cuts to pension contributions, pay and bonuses, the Financial Times first reported.
They also raised concerns about the audit giant measuring staff performance against one another, and ranking individual team members from best to worst.
According to the Financial Times, Michael told staff to “stop moaning” and to stop “playing the victim card”.
The chairman has since apologised, saying: “I am sorry for the words I used, which did not reflect what I believe in, and I have apologised to my colleagues.
“Looking after the wellbeing of our people and creating a culture where everyone can thrive is of critical importance to me and is at the heart of everything we do as a firm.”
Partners at KPMG had their pay cut 11 per cent last year, from some £640,000 on average to £572,000, as Covid-19 hit profits at the firm.
Michael too faced a pay cut, earning £1.7m for the year – down 14 per cent on 2019.
The Big Four firm saw revenue decrease four per cent to £2.3bn, and underlying profit for the year dip six per cent to £288m.