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London firm Finers Stephens Innocent is set to cut more than a fifth of jobs in its real estate practice, starting a four-week redundancy consultation.
The firm is looking to axe a maximum of six fee-earners from its 25-strong property team. Finers managing partner Paul Millett confirmed that some support staff jobs would also go in the consultation, but would not confirm how many.
Millett said: “Basically we had a very good run to the end of May and June, and parts of the property practice are still performing well, but you can’t ignore what’s going on in the wider market.”
“Obviously we are very, very sorry to have to do this,” he added.
The consultation began this week and will last for a month. Finers has joined the growing ranks of firms to kick off redundancy programmes this week, which has seen Ward Hadaway (The Lawyer, 25 September), Halliwells (24 September() and LG (26 September) all take an axe to their property departments.