Wragges set to cut 85 more jobs after 17% revenue drop-off
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.
Wragge & Co has unveiled its 2008-09 financial results and announced a second redundancy round set to affect up to 85 people.
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651