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Berwin Leighton Paisner today concluded its redundancy consultation, confirming it will cut more than 100 jobs at the firm.
The consultation kicked off on 14 May. The firm said it had reached its ”target number” of redundancies, a total that amounts to 58 legal staff and 44 secretarial staff.
The firm declined to comment on which practice areas had seen lawyer jobs cut.
BLP has also cut a number of roles in the business services team. The firm did not say how many roles had been cut but said it was equivalent to 15 per cent of the department’s total salary costs.
It added that 84 per cent of employees involved had opted to take redundancy on a voluntary basis.
As the consultation began earlier this year, managing partner Neville Eisenberg said the move was “part of a general review of our business to ensure that we are well positioned for the future.”
The move is reminiscent of BLP’s last redundancy round in 2009, when 85 jobs were slashed through a mixture of compulsory and voluntary redundancies (22 June 2009).
In the 2011/12 financial year, staff costs at the firm rose above £100m with net debt increasing to £14.8m (25 February 2013). BLP also delayed paying bonuses to its equity partners earlier this year (8 March 2013).
The firm is yet to announce its financial results for the 2012/13 financial year.