Ashurst slashes 10 from equity partnership

Ashurst is set to cull 10 equity partners from its global ranks.

<a class=Ashurst slashes 10 from equity partnership” />Ashurst is set to cull 10 equity partners from its global ranks.

It is understood that seven London equity partners and three overseas equity partners have lost their jobs.

Partners in the finance, corporate, commercial and projects teams are understood to be affected.

According to The Lawyer’s UK 200 2008 Ashurst had 130 equity partners and a total partnership of 197.

While the total number of redundancies across UK law firms now stands at well over 2,000, Ashurst has so far not announced any redundancy consultations.

The news comes after Addleshaw Goddard today announced that it was cutting 19 from its partnership after deciding it has too many partners for its business needs (, 21 January).

Ashurst’s turnover at the 2008-09 half-year point had increased by 7.5 per cent on the same period last year (, 04 November 2008).

The firm’s LLP accounts for the 2007-08 financial year showed the firm upping its cash at bank by around 40 per cent (6 January).

Ashurst senior partner Charlie Geffen (pictured) and managing partner Simon Bromwich declined to comment.

For more on legal redundancies and job prospects, see our Legal Job Watch page.

To subscribe to our free Lawyer News Daily news and comment email, click here. Or get the latest news, features and comment as it’s published with our free RSS feed.