'Everyone's upset' | KPMG scraps overtime pay for junior auditors amid cost-cutting drive

KPMG has scrapped overtime pay for its junior auditors in the UK, a move that has angered staff and comes as the Big Four firm looks to rein in costs and shorten gruelling “busy season” working hours, according to reports.

The change ends the firm’s “recharges” policy, which had allowed auditors to claim extra pay for working more than 50 hours a week. The system had proved valuable during peak audit periods when staff often clocked up over 70-hour weeks.