BLP real estate team to feel brunt of cuts as partners predict sharp PEP dip
Real estate is set to be heavily affected by Berwin Leighton Paisner's (BLP's) recently announced redundancy plans, with one third of the planned lawyer cuts set to hit the firm's property and planning teams. The UK top 15 firm last month put around 100 jobs at risk of redundancy, including 58 legal roles. It has now emerged that roughly 17 of the lawyer positions are in the real estate team, with a further three roles at risk in the planning department. It is understood that the firm may try to move some of the lawyers at risk of redundancy into its Lawyers On Demand service. Meanwhile, partners have said profits per equity partner (PEP) could be down by as much as 50% this year, against broadly static revenues. This could take PEP down to around £330,000, compared with a figure of £660,000 in 2011-12, when profits fell by 7%.
Real estate is set to be heavily affected by Berwin Leighton Paisner’s (BLP’s) recently announced redundancy plans, with one third of the planned lawyer cuts set to hit the firm’s property and planning teams.
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