Insurance group Parabis to lay off lawyers and staff

March 14, 2013 Insurance group Parabis has announced a redundancy consultation affecting lawyers and support staff in its Leeds office. The firm is slimming its defendant insurance branch, which operates under the name Plexus Law.

Industry observers note that the company’s conversion to an alternative business structure last year saw net profits rise by a massive 40 per cent as a result of private equity investment, but the influx of cash was clearly not enough to avoid redundancy consultations this year.

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