Staff at global accountancy firm KPMG have been told that the company is to make approximately 200 staff redundant in Ireland.
It will also impact, but to a significantly lesser extent, on professional staff in the firm’s transaction based businesses.
The firm, which employs almost 2,000 people in Dublin, Cork, Galway and Belfast, made the announcement at a meeting with staff in the Mansion House in Dublin this morning.
The company also said it would be cutting pay to the remaining staff by between 5 per cent and 10 per cent.
In a statement the company said: "The redundancies will, in the main, impact on recently qualified accountants and on support services staff".
The firm also said the redundancy programme would not impact on the 250 graduates joining the firm in the autumn nor on the firm's plans to recruit at graduate level in 2010.