KPMG UK scraps Covid-era policy letting staff leave early

KPMG's U.K. arm has told staff that they can no longer finish early on Fridays over the summer, in a reversal of a Covid-era policy, according to a spokesperson.

"Every year we review our summer 'jump start' program to make sure we are considering market conditions and business needs," the spokesperson said in an emailed statement, referring to the policy. 

The benefit allowed the accountancy firm's staff to finish work early on Fridays during the summer months. This is the first year since its 2021 introduction that it has not run, the spokesperson confirmed.

Across accountancy and consultancy firms, there's been a broad rollback of flexible working programs that were introduced during the pandemic. Work-from-home policies specifically have been watered down by many companies in the financial sector in recent years.

Broadly, professional services companies have been looking for ways to improve efficiency and cut costs, as the industry grapples with rising expenses and changes brought about by artificial intelligence and new technology. KPMG UK cut hundreds of audit staff in March, citing a difficult market and a slow attrition rate. 

French bank Societe Generale SA last year told staff to come to the office four days a week, while HSBC Holdings Plc scrapped remote work for client-facing staff in Hong Kong and told managing directors they needed to be in office four days a week. 

PricewaterhouseCoopers UK has a similar early finish policy on Fridays in the summer that is continuing to run, according to a spokesperson.