Osborne Clarke is to make eight fee earners and one member of support staff redundant.
It comes as the firm reported a five per cent dip in revenues to £44.2m from £46.4m at the half-year point. The Bristol headquartered firm said these numbers were “better than expected” given the fall off in deal volumes valued at more than £50m.
The cuts will be made in the corporate and real estate practices. Managing partner Simon Beswick said the firm had seen growth in its disputes and employment practices, but he added: “Our transactions business is down when compared to the buoyant market of the last four years.”
Beswick continued: “This brings our business largely in line with market demand. Regrettably, however, we’ve had to make nine roles redundant in our real estate and corporate practices.
“Although it’s difficult to predict how the market will play out during 2009, we believe these actions coupled with ongoing work to improve our working practices will help us face the demands of this economic downturn with confidence.”