After exhausting other means of trimming staff costs, including four day weeks and extended leave, KPMG has announced a round of redundancies.

The firm is being forced to axe more than 250 jobs, with the UK tax practice hardest hit. Tax advisory services have been hardest hit in the economic downturn, The Times reports, due to a dearth of transactions activity on which tax advice is sought.

KPMG staff were informed in an email that redundancy discussions were taking place in the tax practice.