Berwin Leighton Paisner (BLP) today (14 May) announced plans to make a raft of redundancies affecting nearly 100 lawyers and staff at the firm.
The firm will be consulting on a redundancy programme, which it anticipates will affect about 58 legal staff and 44 secretarial staff. It also wants to cut salary costs in its business services team by 15 per cent.
Managing partner Neville Eisenberg said in a statement: “As announced last year, we have been in a period of integration and consolidation after a number of years of high growth and investment. The decision to review a number of roles across our London office is part of a general review of our business to ensure that we are well positioned for the future.”
The firm has previously undertaken similar exercises to cut jobs and costs. In 2009 the firm slashed 85 jobs (22 June 2009) through a mixture of compulsory and voluntary redundancies.
In the 2011/12 financial year, staff costs at the firm rose above £100m (25 February 2013) with net debt rising to £14.8m. The firm delayed paying bonuses to equity partners earlier this year (8 March 2013).
BLP recently announced a reduced promotions round, making up nine lawyers, mostly in London (7 March 2013).