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21 January 2009
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26 January 2009
Ashurst slashes 10 from equity partnership" />Ashurst is set to cull 10 equity partners from its global ranks.
It is understood that seven London equity partners and three overseas equity partners have lost their jobs.
Partners in the finance, corporate, commercial and projects teams are understood to be affected.
According to The Lawyer’s UK 200 2008 Ashurst had 130 equity partners and a total partnership of 197.
While the total number of redundancies across UK law firms now stands at well over 2,000, Ashurst has so far not announced any redundancy consultations.
The news comes after Addleshaw Goddard today announced that it was cutting 19 from its partnership after deciding it has too many partners for its business needs (TheLawyer.com, 21 January).
Ashurst's turnover at the 2008-09 half-year point had increased by 7.5 per cent on the same period last year (TheLawyer.com, 04 November 2008).
The firm's LLP accounts for the 2007-08 financial year showed the firm upping its cash at bank by around 40 per cent (6 January).
Ashurst senior partner Charlie Geffen (pictured) and managing partner Simon Bromwich declined to comment.
For more on legal redundancies and job prospects, see our Legal Job Watch page.
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Anonymous | 21-Jan-2009 5:02 pm
Ashurt redundancies in NovemberAshurst made redundancies as far back as November and kept that quiet.
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Chameleon | 22-Jan-2009 10:11 am
Ashurt RedundanciesAshurt... I bet that's how all the redundancy candidates feel right now.... Whatever happened to cutting your cloth to suit your means... or in this case cutting your drawings to meet your profits...
Anonymous | 23-Jan-2009 2:41 pm
AnonymousThese numbers are just the tip of the iceberg. And saying "the total number of redundancies across UK law firms now stands at well over 2,000" has got to be inaccurate. The Lawyer is only reporting the ones that make the headlines.
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