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LG has launched a second redundancy consultation which could see up to 37 members of staff lose their jobs.
Seventeen fee-earners including partners and an additional 20 support staff have their jobs under review.
Managing partner Hugh Maule (pictured) said: “We’ve been reviewing all aspects of our business closely and cutting costs where possible for some time now – but in light of the ongoing economic climate, we have reached the unfortunate conclusion that this step is now necessary.”
This round of job cuts at LG follows on from an earlier consultation with 21 members of staff in September, which resulted in 14 job losses (TheLawyer.com, 27 October 2008).
LG experienced a 3.4 per cent drop in profit per equity partner at the end of the 2007-08 financial year, down £15,000 from £445,000. It brought in £67.5m in revenues over the same period (TheLawyer.com, 19 June 2008).