Mishcon de Reya, Osborne Clarke and Walker Morris are the latest firms to feel the pinch, with all three conducting redundancy consultations.London-based Mishcons' consultation is thought to include both partners and fee earners, although the firm has refused to comment on the number of positions under review or the staff involved. The proposed cuts are part of a wider review of the business as a result of the market downturn. The firm, which has around 55 partners and more than 135 lawyers, announced in July that its profits per equity partner for the 2007-08 financial year had increased by just 1.7% to £710,000, having grown by 70% the previous year, attributing the drop to investments.
December 04, 2008 at 12:05 AM
1 minute read
The original version of this story was published on Legalweek
More firms begin consultations on redundancies; Walker Morris axes three fee earners and five secretaries
Mishcon de Reya, Osborne Clarke and Walker Morris are the latest firms to feel the pinch, with all three conducting redundancy consultations.
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