Big Four accounting firm Ernst & Young is laying off dozens of partners in the US, according to media reports.

While the majority of the cuts are on the advisory side, they are also spread across the tax and audit functions as well, the Wall Street Journal reported on Monday.

It is estimated about 100 jobs will go in consulting and about 30 in strategy and advising as it faces slowing demand in some segments.

Consulting services depend on fluctuations in the economy, but audit offers more stable income because of mandatory reporting requirements by companies.

Yang Shim, EY’s head of Americas technology consulting, in a webcast to employees, said they chose to make the cuts “where growth has notably slowed and where we have excess capacity,” the Wall Street Journal said.

In April, the US arm said it would shed 5 per cent of its workforce, or 3,000 employees, just after the unit’s objection torpedoed the global accounting giant’s plan to break up its audit and consulting units.

The decision was taken after assessing the impact of current economic conditions, strong employee retention rates and “overcapacity” in parts of the company

In October, accounting firm KPMG said it planned to cut about 100 jobs in its deal advisory business in the UK.

The layoffs will impact closer to 6 per cent of the 1,700-strong KPMG deal advisory team in the UK, adding that the move was due to lower client demand.

KPMG also announced layoffs affecting 5 per cent of its US employees in June. Deloitte in September said it planned to cut more than 800 UK jobs.

In July, Ernst & Young appointed insider Janet Truncale as global chief executive, replacing Carmine Di Sibio.

Truncale has spent more than 30 years at the firm after joining as an intern.

The transition comes months after EY called off a plan to break up its audit and consulting units.