KPMG has announced that 3% of its UK workforce is at risk from redundancy.
This is the second round of job cuts in six months - in March the firm announced that it would cut 120 jobs from its UK offices.
In a statement, the Big Four firm said: 'KPMG continues to grow its UK business in a subdued economy and fast-changing marketplace. However, we have taken a hard look at our operations to ensure that we stay best positioned to continue providing the best services to our clients as efficiently as possible.
'Part of this means actively managing our cost base. As a result, a number of business units within KPMG are now carrying out reviews of their structures and headcount numbers. It is likely that we will need to make a number of roles redundant over the coming weeks.
'Clearly, any redundancy situation is regrettable - and KPMG will make every effort to redeploy individuals within the firm whose roles are "at risk".'
The review affects KPMG's 11,299 UK staff.
A spokesman would not comment on what levels of seniority would be impacted by the news, but said partners would be dodging the bullet.
The firm's accounting and audit service lines went down by 2.6% to £456m, (£458m in 2010), while pre-tax profits were down to £396m, (£416 in 2010), according to Accountancy's Top 60.
On 31 July, John Griffith Jones stood down as senior partner to be replaced by Simon Collins, the former head of KPMG's transactions and restructuring practice.
A spokeswoman for Deloitte said: 'As of today, there is no redundancy programme underway.' Last month, Deloitte announced that they were recruiting 1,750 entry level positions as well as 200 more experienced staff.'
PwC is understood to have reviewed staff more than six months ago. A spokesman for the firm said, that while the firm has seen a slight increase in overall staff numbers over the last 12 months, it was also 'not immune from the economic conditions.'
'We've taken opportunities to reassign people to different parts of our business or, on occasion, offer voluntary terms in areas of the business where we may have less growth or demand in the long term,' the spokesman said.
The firm is set to take on 1,300 graduates and school leavers in September and is now recruiting for those positions.