Mayer Brown's Rising Staff Costs Wipe Out Profit Gains, International LLP Accounts Show
The firm's staff costs went up 11% while its average profit per member only grew by 0.4% in the year ended in April 2019.
January 24, 2020 at 06:29 AM
2 minute read
Partner profit growth at Mayer Brown's U.K. and Japanese offices was hit by rising staff costs in the financial year to April 2019, according to the firm's latest accounts.
Limited liability partnership (LLP) accounts for the entity that comprises the offices showed that staff costs went up 11% from £33.2 million to £37 million in the year ended in April 2019.
The Companies House filing details that the surge in staff costs was driven by a rise in wages and salaries for its 351 employees.
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