'Majority of firms' look to lay off staff

Individuals looking for jobs in tax or other accountancy jobs in London may find a tougher employment market as the majority of firms nationwide plan to reduce their headcount.

Recent research from professional services provider KPMG reveals 60 per cent of companies plan on reducing costs in the current economic climate, with 53 per cent looking to reduce the number of employees.

The survey also found that companies across the country have been affected and not just London recruiters.

Malcolm Edge, regional chairman for KPMG in the north, said: "The clouds that were on the horizon when we first conducted this survey back in early spring are now right overhead."

He added business are now feeling the impact of a mix of dropping consumer confidence, tighter credit conditions and rising inflation.

Earlier this month, Accountancy Age reported on a survey from Venture Finance showing a fifth of accountants have felt the impact of the credit crunch in the form of their clients having reduced access to finance.

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