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"Big four" accountancy firm Deloitte has scrapped its summer internship scheme for students as it looks to cut costs during the coronavirus crisis.

Candidates will be handed a £500 "goodwill payment", which is a sixth of the amount some would have earned over the summer.

Instead, the 350 university students who were offered a place on the scheme will be able to join an online training programme.

Deloitte said safety was its priority.