DAC Beachcroft cuts five fee earner jobs in latest law firm layoffs
DAC Beachcroft has cut five City fee-earning roles, the latest in a series of redundancy rounds at UK law firms. The DAC reductions are part of a restructuring of its London employment and pensions practice, after a review concluded that the team was overstaffed at a senior level.
July 17, 2013 at 06:11 AM
2 minute read
DAC Beachcroft has cut five City fee-earning roles, the latest in a series of redundancy rounds at UK law firms.
The DAC reductions are part of a restructuring of its London employment and pensions practice, after a review concluded that the team was overstaffed at a senior level.
However, the firm's partners have avoided the cut, with three associates and two solicitors opting to take voluntary redundancy.
Some of the people affected will stay at the firm until the autumn to enable a handover of clients and work.
The cuts will leave the London employment team with 27 fee-earners. The national team has 110 fee earners across its UK locations, in Bristol, Leeds, London, Manchester and Newcastle, including 19 partners.
A statement from the firm said: "We are very sorry that this action has been necessary and we are grateful to the whole team for their professionalism during the process. This remains a very personal issue for those involved and we will not be commenting further."
DAC's financial results, announced this week, showed a fall in PEP for 2012-13 to £284,000 from £321,000 the year before, while turnover increased by 14 per cent to £188.2m.
A host of firms have been conducting redundancy reviews this year. Earlier this month Berwin Leighton Paisner said it had cut all of the 102 jobs it had placed under review back in May, with 58 legal staff and 44 secretarial staff laid off.
Meanwhile, US firm Edwards Wildman Palmer cut eight support roles in its London office earlier this month after a firm-wide redundancy consultation.
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