ACCOUNTANCY firm KPMG is cutting 700 jobs in the UK, including the North-East, in response to the downturn in market conditions.
The group, which has 24 UK offices, said the cuts would affect all functions in the firm.
There is only one branch in the North-East - in Newcastle. There is also an office in Leeds.
KPMG was also cutting 62 jobs in its associated law firm KLegal - 42 would in London and 20 in offices in Glasgow and Edinburgh.
The group, which revealed the cuts on its website earlier this week, said it was committed to a "full consultation process with elected employee representatives".
It said it would offer voluntary redundancies and internal deployment where possible, and would help those affected by compulsory redundancy to find new opportunities outside the firm.
The financial advisory services division is expected to bear the brunt.
KPMG said it expected the process to be complete by mid-September.
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules hereComments are closed on this article