The cuts represent less than 5 percent of its total workforce.
E&Y country managing partner Jean-Pierre Letartre said the voluntary departures will mainly impact staff with at least three years of professional experience. Another 95 support staff from E&Y offices across France will also be asked to leave the firm.
Letartre forecasts that E&Y revenues in France will fall by about 5 percent in the financial year to 30 June 2009.
He expected a similar drop in activity for the next fiscal year but confirmed that E&Y still expects to recruit 400 graduates in France this year.