Newcastle firm Watson Burton announces redundancies
Watson Burton has announced further redundancies – with four jobs set to be eliminated.
Last year the firm reported poor financial results when work on the miner’s compensation scheme dried up. Turnover went from £23 million to £14.1 million, while profits fell from £4.7 million to to £1.8 million. At the end of 2009, the firm's senior partners made £1 million of contributions to the firm, or £125,000 each, but the move does not seem to have reversed the firm’s fortunes.
At least ten partners have moved to other firms in the past eighteen months, while the headcount of fee earners has fallen from 91 to 66.
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