Struggling Anglo-Welsh firm Morgan Cole is resorting to further cost-cutting measures that will see two partners ousted from the partnership and leaves a further 20 people facing the possibility of redundancy.
The staffing cuts come just six months after Morgan Cole made six non-lawyers redundant following its demerger with London insurance practice Fishburns. The firm's IT staff were hit particularly hard. This time, HR is understood to have been among the areas targeted for cut-backs. The bulk of the firm's administrative staff is based in Cardiff and Oxford.
In a statement to The Lawyer, the firm said: "We can confirm that, like many other professional firms, we have been reviewing our budgets and staff requirements in readiness for the next financial year. As a consequence, a total of 20 people are being considered for redundancy and two partners are retiring from the partnership. This represents 3 per cent of the total staff."
Fifty-four partners have left the firm since it was formed in 1998.