Hammonds to trim 20 from its partnership

Hammonds to trim 20 from its partnershipHammonds is to cut up to 20 partners as part of a sweeping review that will see the firm’s partnership reduced by more than 10 per cent.

The firm is blaming poor economic conditions for the cuts. It is understood that negotiations are already underway.

Managing partner Peter Crossley (pictured) said: “We’ve been reviewing partner levels for some time and in view of the prevailing economic downturn we’ve regretfully decided that up to 20 partners across the UK will be leaving the firm.

“We’re currently in discussion with partners and we will, of course, offer our full support to those departing the firm.”

The cuts will affect both equity and fixed-share partners. The firm has 74 of the former and 114 of the latter.

The firm has already laid off a total of 77 fee-earners and support staff as part of a redundancy consultation.