Osborne Clarke to cut five jobs in real estate group
Osborne Clarke is set to make up to five redundancies in its real estate department, with the London and Reading offices expected to be affected.
Simon Beswick
The Bristol firm said that the need for redundancies in the group has come about as a result of client demand.
Managing partner Simon Beswick said: “Looking back, we’ve had some good financial results in real estate over the past six months. We are, however, preparing for the market that lies ahead further to real estate client feedback.
“We need to structure that part of our business in light of our clients’ future needs. As a result, up to five lawyer roles are currently at risk of redundancy in that group.”
It is understood that the potential redundancies will be at a relatively senior level although no partners are set to be affected. The Bristol office is not expected to be subject to any redundancies, with up to two coming from Reading and three from the firm’s City office.
The news comes as Osborne Clarke has revealed a strong set of first-half financial results.
The firm brought in £42.57m in fees compared with £38.62m for the same period as last year, marking an increase of 10 per cent year-on-year. In UK figures alone, the firm recorded an 8 per cent rise, from £31.8m in 2009-10 to £34.5m during the 2010-11 first half.
View results 10 per page | 20 per page
Readers' comments (11)
Big Dave | 18-Nov-2010 8:51 pm
"We're not even waiting for the downturn, and we're certainly not going to stick by our people and try to ride it out. We're cutting early and cutting hard."
Nice.
Unsuitable or offensive? Report this comment
Anonymous | 19-Nov-2010 9:38 am
I agree with Big Dave - profit over loyalty only brings short term wins. People never forget how they are treated by their employers.
Unsuitable or offensive? Report this comment
Hugey | 19-Nov-2010 10:31 am
Get a clue. All firms are the same.
Unsuitable or offensive? Report this comment
Honest Dave | 19-Nov-2010 11:27 am
At least they announced these redundancies and made them formal - lots of firms just 'manage people out' on the quiet.
Unsuitable or offensive? Report this comment
Anonymous | 19-Nov-2010 12:08 pm
To Hugey
A lot of firms are the same - not all firms are the same - there is a difference!
Some still actually value people!
Unsuitable or offensive? Report this comment
Hugey | 19-Nov-2010 2:10 pm
Name them. I'm sure many readers would be interested to hear.
Unsuitable or offensive? Report this comment
Hugey | 19-Nov-2010 2:13 pm
Apologies, fair point - I would like to think they are not all the same but you can't help wondering sometimes...
Unsuitable or offensive? Report this comment
Del Boy Trotter | 19-Nov-2010 2:26 pm
@12:08 - Apart from possibly Norton Rose, care to name some?
Unsuitable or offensive? Report this comment
Hugey | 19-Nov-2010 3:03 pm
The Hugey at 2.13pm is an imposter. The Lawyer should compare e-mail addresses before printing.
Unsuitable or offensive? Report this comment
Boyd | 19-Nov-2010 3:22 pm
Looked on their website where associates are also up. There are 8 partners and 6 associates across London and Reading real estate. After this, there will be 8 partners and 1 associate. Excellent gearing.
Unsuitable or offensive? Report this comment