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Blake Lapthorn has announced a redundancy consultation with 43 members of staff across both fee-earning and non-fee-earning roles.
Blake Lapthorn in consultation to lay off 43 staff" />Blake ;Lapthorn ;has announced a redundancy consultation ;with ;43 members of staff across both fee-earning and non-fee-earning roles.
Senior partner Jonathan Lloyd-Jones ;said ;the consultation would affect “a number of areas, ranging from business support through to our legal teams”.
The ;firm ;currently employs 895 staff, of whom 421 are fee-earners. It reported an average profit per equity partner (PEP) of £204,000 this year, only slightly up on last year’s £202,000, while the equity spread fell from a top end of £221,000 in 2006-07 to £210,000 this year.
In 2006 the South East firm merged with Tarlo Lyons, which saw its total turnover grow from £33.3m to £50.7m. This was part of an acquisitive expansion plan that began with it taking on an Oxford base by merging with Linnells in 2003.
Despite now having a full-service practice, its core market, which is focused on Hampshire, has been badly hit by the downturn in residential property work.
Local rivals have also made ;redundancies. Thomas Eggar, which acquired Blake Lapthorn’s Southampton office for £1.7m in July, made 15 redundant in the commercial real estate department last month (22 September). ASB Law let 38 go after consolidating its Brighton and Horsham offices with its bases in Crawley and Maidstone.
Blake Lapthorn recently invested in new offices outside Southampton in Chandler’s Ford, consolidating its Southampton and Fareham offices into a single site of 400 people.