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Ashurst has made an undisclosed number of job cuts in Australia as it reacts to market conditions in the country.
The firm, which opened Down Under earlier this year through a tie-up with domestic firm Blake Dawson, said it had made “adjustments” to its business due to the challenging environment.
Details and timings of the process are unclear, with the total number and function of staff affected also unconfirmed.
A spokesperson for the firm said: “This is a very challenging market and Ashurst Australia has made some adjustments in response to prevailing economic conditions. Like all prudent businesses we’ll continue to assess the market conditions and respond as necessary. In doing so we’ll place particular emphasis upon our ability to benefit from the upturn in the market when it occurs.”
The news follows confirmation this week of jobs cuts by DLA Piper in Asia Pacific locations such as Australia and Hong Kong, although details are also unclear (12 December 2012).
Ashurst was one of a number of UK and US firms to join the rush of mergers, joint ventures and lateral hiring sprees in Australia in recent years (26 September 2012). The firm’s operations in the country are financially separate from the rest of the Ashurst network, with its revenue not included in Ashurst’s recent announcement of a 6 per cent half-year income drop (23 November 2012).