Howard Kennedy is to commence a firm wide strategic review which could lead to 50 jobs, including 20 fee-earners, being cut.
It comes a week after the firm parted company with its six-partner media practice, with three partners, Susan Aslan, Sue Charles and Hakan Kousetta, quitting the firm to launch a media boutique, Aslan Charles Kousetta. (The Lawyer16 June)
Property partner Paul Springall told The Lawyer: "The market conditions are pretty gloomy out there. The credit crunch is upon us and we have to review our entire business to be able to adapt."
Springall refused to name practices which would be most adversely affected.
"It is a strategic review of the entire firm which we started yesterday morning (19 June). The primary purpose is to engage with everyone at the firm. We are doing the review to see where we can be more efficient," he said.
Howard Kennedy launched a family practice in May (The Lawyer, 18 May ) after raiding Goodman Derrick for two partners, Ursula Danagher and Lindsey Alexan.
Springall said plans to grow the family practice to become a core practice had not been shelved as a result of the review.