The Lawyer Africa Elite 2014 features an in-depth look at 46 leading independent firms’ strategies in 15 key sub-Saharan jurisdictions, as well as the views of in-house counsel from some of Africa’s largest companies... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
DWF has scrapped a total of 38 roles across the firm following redundancy consultations in May.
The firm announced two rounds of cuts in May putting roles at risk in Coventry, Edinburgh, Glasgow, London, Manchester and Teesside.
In Edinburgh, which was the first to launch a redundancy consultation (14 May 2013) associate positions in the banking and finance practice were jeopardised, alongside solicitors in the corporate group, associates and senior solicitors in the infrastructure, environment and transport (IET) group, and solicitors and secretaries in the real estate group.
In Glasgow, cuts were expected to hit those at associate and legal assistant level in the litigation group, as well as associates in the real estate practice and secretaries in the pension practice. The office’s IT support team was also likely to be affected.
The second consultation put 80 roles at risk and was launched later the same month (31 May 2013). The firm said it was aiming to narrow the full-service focus of the firm’s Coventry and Teeside offices putting 11 roles in danger, while relocating some of the positions into its Birmingham and Newcastle offices.
In Manchester, 23 banking and finance roles were put in jeopardy, while in London the firm put 35 support roles up for review. It insisted, however, that it only expected a reduction of two positions at the City base.
DWF confirmed that 38 redundancies had been cut as a result of the consultations, but the firm refused to say which office had been most adversely affected or what roles had been reduced.
The cuts mark the second wave of redundancies at DWF this year, after it made at least another 38 roles redundant from its support team in March 2013 (27 March).
The redundancies come a month after DWF posted an 84.5 per cent growth in revenue in 2012/13 from £102m to £188.2m (6 June 2013). Net profit, meanwhile, rose by 43.4 per cent from £14.5m to £20.8m, while profit per equity partner inched up 4.1 per cent from £412,000 in 2011/12 to £429,000 this year.
DWF acquired Cobbetts in a pre-pack deal in January (31 January) and merged with 22-partner Scottish professional indemnity practice Fishburns in February (18 January).