UK firm Pannone set to make a round of redundancies

Up to 12 fee earners and support staff from UK firm Pannone will lose their jobs when the firm closes two offices in Hale and Alderley Edge in Cheshire, as the firm refocuses resources on its London office – which is set to double in size. The firm’s restructuring effort has also precipitated redundancy consultations with ‘a small number of individuals’ in the construction and fast-track road traffic accident teams in Manchester. Profit at Pannone was down almost 13 per cent in 2010-11, from £7.8m to £6.8m, while average profit per equity partner was down 9.5 per cent, from £229,500 to £208,000. In a statement, Holt said: “The decision to close the offices in Hale and Alderley Edge is based on our strategic plans to further enhance our national reputation across a wide range of disciplines and specialist niche areas. We believe that will be achieved by moving away from small local offices to expanding our presence in London. “The closures will regrettably result in a number of redundancies across secretarial and fee-earning roles and we are working closely with the individuals concerned.”

UK firm Pannone set to make a round of redundancies thelawyer.com Fri, Jan 13, 2012