Freshfields Bruckhaus Deringer has taken two major steps in its drive to ramp up profitability, it has emerged today (20 October), with its Italian arm facing the prospect of de-equitisations and its UK support functions subject to a review that could lead to redundancies.
The magic circle firm put forward proposals to review its London back office functions this week and is currently consulting with the affected staff. Freshfields stresses that nothing final has been decided yet and partners in the firm estimate that any job losses are likely to number in the tens rather than the hundreds.
