City ;firm ;Speechly Bircham has launched a redundancy consultation with eight fee-earners.
Managing ;partner Michael Lingens told The Lawyer the consultation was the result of a two month-long business review that had identified a slowdown in real estate and corporate work.
“I regret any loss of good people, but this is a considered response to the current business climate,” said Lingens, adding that the firm is continuing to recruit in practice areas unaffected by the credit crunch, such as IP, employment and disputes.
Meanwhile, support staff are unlikely to be hit by the redundancy programme.
“We run a tight ship on support staff and there’s enough work for everyone,” said Lingens.
Speechly’s turnover rose by 18 per cent, from £40m to £47.2m, at the 2007-08 year-end, which was ahead of budget.