KPMG hires staffers from Andersen

KPMG hires staffers from Andersen

KPMG Consulting has decided to hire en masse the staff of Arthur Andersen LLP's business and IT consulting unit instead of acquiring the unit itself, apparently in order to shield itself from legal liabilities. The agreement, which is expected to become final this month, calls for KPMG Consulting to pay $US63 million for the employees. The new hires could pump about $65 million into KPMG Consulting's net revenue in the quarter closing in September, the company said.

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