Australia news live: KMPG axes hundreds of staff in wake of audit leaks scandal; jobseeker now barely two-thirds of pension

KPMG has announced that it will be laying off hundreds of staff members due to a recent scandal involving leaked audits. This decision comes as the company reports a 1% year-over-year decline in revenue. The job market in Australia is already challenging, with the jobseeker payment now barely covering two-thirds of the pension amount. This news is significant for the economy, as it may indicate a broader trend of job losses and economic uncertainty.

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KMPG is cutting hundreds of jobs due to a scandal. This could lead to higher unemployment and lower consumer spending in Australia.

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