Cobbetts has entered redundancy consultations with staff in its real estate practice, including partners.
The firm is aiming for a single figure headcount reduction, across all levels and practice areas of its Leeds and Manchester real estate departments.
Managing partner Michael Shaw said: “As a result of the impact of the downturn in the property market and the implications of this on the firm in the short and medium terms, Cobbetts is carrying out a review of its property business, with a view of entering into a consultation process with some employees.
“This process may result in some redundancies but it is anticipated that only a limited number of people will be affected. Until the consultation process is completed, it would be inappropriate for us to comment further.”
Cobbetts’ real estate practice comprises 127 fee-earners in total.
Earlier in the year, Cobbetts lost a five-strong property finance team for Halliwells, in the wake of Cobbetts’ partnership shake-up (as first reported by The Lawyer, 28 April).