Profits Plunge at Eversheds; 16% of Staff Cut

Eversheds has seen a 27% drop in profit per equity partner, to £404,000 ($548,000) in fiscal 2008.

The firm’s profit per equity partner was £552,000 ($885,000) in 2007.

Revenue fell 6% to £366 million ($587 million), from £390m ($625 million) in 2007.

Over the past 12 months, Eversheds has held three redundancy consultations, and cut 16% of its total staff, including 80 lawyers.

Eversheds LLP is one of the largest full service law firms in the world. Headquartered in London, it has 40 offices in major cities across the UK, Europe, the Middle East and China.

• Mallesons to Cut 100 Lawyers, Staff
• Pinsent Masons to Hold Redundancy Consultation
• Wragge & Co Targeting 85 for Redundancy
• Blake Lapthorn Redundancy Targets 33
• Update: DLA Piper Lays Off 24 Lawyers, 100 Staff

Posted by Erik Even on May 27, 2009. Filed under Home,Law Firm News,Legal News,World News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry