Ashurst to cull up to 50 partners in Australia?
Ashurst is set to cull up to 50 of its 189 partners in Australia according to a report by the Australian Financial Review.
The move, which was reported by anonymous sources, is intended to increase profit margins ahead of an upcoming vote for full financial integration with the global operation.
Ashurst entered the Australian market via a merger with local firm Blake Dawson in March last year. The operation has since then struggled under the shadow of fiscal targets that were imposed as a final condition of the full tie-up.
The firm has not yet made a comment.