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
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.