More than 34,000 police jobs will be lost as part of Government cuts, inspectors have ruled.
About 16,200 police officers will be axed by 2015 amid fears crime could go up by 3%, a report by Her Majesty's Inspectorate of Constabulary said.
Up to 1,800 community support officers and 16,100 police staff will also go as part of an overall reduction of 14%, the study of 43 forces across England and Wales said.
Protecting frontline policing will be "very challenging" over the next 18 months, inspectors found.
"Forces will have to transform their efficiency if they are to protect frontline services," the report added.
In the 12 months up to March this year, West Midlands Police had lost 477 officers, while West Mercia had lost 140.
Roger Baker, of HMIC, said it "went without saying" that forces were facing their biggest financial challenge in a generation.
HMIC chief Sir Denis O'Connor added: "The police service must adapt to these changing times in order to deliver the best deal for taxpayers and they will need some support to do this."
Police chiefs said forces were facing "difficult choices" meeting national demands on policing.
West Midlands Police Chief Constable Chris Sims, speaking on behalf of the Association of Chief Police Officers, said: "The report shows forces have made a start but face difficult choices in balancing responsiveness to local need with national demands on policing.
"Differing sizes, workforce mixes and financial starting positions mean each force is in a unique situation.
"But alongside huge effort to drive out cost we will see a smaller workforce and significant changes to the service we offer.
"Chiefs understand the policing sector cannot be immune from cuts taking place across the public sector.