Wragge & Co has unveiled its 2008-09 financial results and announced a second redundancy round set to affect up to 85 people. The national firm has reported a 17% drop in turnover for the last financial year, with revenues falling from £125m in 2007-08 to £104.3m. The firm is yet to finalise its average profits per equity partner. Wragges has also launched a redundancy consultation, as well as announcing a range of cost-saving measures. Up to 85 people could lose their jobs as a result of the 30-day consultation, including fee earners, support staff and secretaries. Those that remain with the firm will see their salaries frozen.
June 10, 2009 at 09:28 AM
1 minute read
The original version of this story was published on Legalweek
Wragge & Co has unveiled its 2008-09 financial results and announced a second redundancy round set to affect up to 85 people.
The national firm has reported a 17% drop in turnover for the last financial year, with revenues falling from £125.6m in 2007-08 to £104.3m. The firm is yet to finalise its average profits per equity partner, but early indications suggest a dip of around 30% from last year’s figure of £483,000.
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