Dewey & LeBoeuf's London office is set to see around 10 departures at associate and support staff level as part of a wave of cost-cutting measures expected to result in around 5% of the firm's lawyers and 6% of staff leaving the firm globally.

Global chairman Steve Davis announced the cuts to staff on Friday (2 March) in a memo prompted by US media coverage on websites such as Above the Law.

The memo – which also informed staff that a number of recent partner departures had been prompted by management decisions, with several others expected to leave in the coming months – attributed the cuts to a rise in the firm's cost base and a need to align resources with demand.

It is understood that partners were not asked to leave the firm but chose to do so following the firm's annual compensation review by management, which this year resulted in a number of partners seeing their pay reduced.

In addition to the job losses and partner departures, a spokesperson told Legal Week that the firm will not be making lateral partner hires in 2012, after bringing in approximately 40 new lateral partners during 2011.

Dewey has yet to confirm its 2011 financial results but according to the memo revenues for the year are up on 2010, when the firm reported a marginal dip in revenues to $910m (£560m) against a 10% increase in profits per equity partner (PEP) to $1.77m (£1.09m.

The note from Davis stated: "Notwithstanding our results in 2011 and so far this year, the firm's executive committee has decided to take proactive steps to align the firm's resources with anticipated demand and strengthen the firm's competitiveness in the global marketplace."

It continued: "Some recent partner departures have been consistent with the firm's strategic planning for 2012, and we expect some additional partners to leave. In addition, we are reducing the number of lawyers and administrative staff globally by approximately 5% and 6% respectively. While decisions of this nature are necessary to ensure the firm's competitiveness, they are always difficult and we very much regret the impact they have on our colleagues who are affected."

One London recruiter commented: "The firm is healthy in terms of financials but has overspent on lateral recruitment over the past year, some of which hasn't paid off how the firm has expected. The cuts are an attempt to rectify this."