Accountancy firm Ernst and Young has told some graduates promised jobs in September that they may have to wait until next spring to join the firm, according to the Daily Telegraph.

The national newspaper reported that Ernst and Young blamed “current market conditions” and said other groups are likely to be considering similar measures in an attempt to cut costs.

But a spokesman for Ernst and Young told Recruiter the reasons were not financial.

Of the 500 graduates recruited to start in the autumn, 6% have been told they  must wait until April or take a small number of alternative positions said the Telegraph.