Scottish firm Maclay Murray & Spens has confirmed the loss of 28 jobs following a redundancy consultation that began in June.
The staff affected are both legal and support staff and based in the firm’s Edinburgh, Glasgow and London offices. Maclays originally said the roles were across a range of practice areas, particularly property and corporate (5 June 2013).
The consultation followed another round of redundancies last year (20 July 2012).
“While we regret having to take these steps, they are necessary for the implementation of the firm’s future growth strategy,” a spokesperson said.
Earlier this year Maclays announced a turnover drop of 12.7 per cent (12 August 2013) from £46.9m to £40.9m for the 2012/13 year. Average profit per equity partner, meanwhile, dropped by almost 22 per cent, from £270,000 in 2011/12 to £211,000 last year.