Deloitte is planning to cut more than 800 jobs in the UK, sources say.
The company, one of the ‘big four’ accountancy firms, is considering the move as part of a cost-cutting restructuring.
In a statement to Sky News, Deloitte confirmed some roles were potentially at risk of redundancy, but did not go into specifics.
The proposed job losses represent a 3% cut in the company’s 27,000-strong workforce in the UK, a source told Reuters news agency.
Deloitte chief executive Richard Houston said in a statement: “Today we announced some targeted restructuring across our businesses, which may – subject to consultation – put some roles at risk of redundancy.
“This follows a slowdown in growth, which, combined with the ongoing economic uncertainty, means we have to consider the shape of our business and may mean we have to make some difficult decisions.”
He added: “I fully understand this is an unsettling time for those people affected and we will be doing everything we can to support individuals with care and respect.”
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It comes after Deloitte announced in April plans to slash 1,200 jobs in the US.
That was followed by KPMG, another member of the ‘big four’ alongside EY and PwC, which said in June that it would cut 5% of its workforce in the US.
EY also reportedly told workers last month it was preparing to make 150 roles in the UK redundant.
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It comes as fears about the UK’s economic outlook continue to weigh on businesses, amid high inflation, rising interest rates and stagnant growth.
A recent poll of 400 recruitment agencies reported a 43% drop in permanent hires in July, with the number of new recruits declining at the quickest rate in three years.
KPMG and the Recruitment and Employment Confederation, which carried out the research, also said it came amid “frequent reports” of redundancies and hiring freezes at many companies.