Dundas & Wilson Profits Down 12%

Dundas & Wilson, which cut 50 jobs in March, has reported a drop in annual profits of £9 million ($14.8 million).

The firm saw profits of £66 million ($108.5 million) in fiscal 2009, down from £74.8 million ($123 million) in 2008.

The firm is asking staff to agree to a temporary 10% salary reduction from September ’09 to April ’10, to avoid redundancies. Staff would get 18 additional holiday days.

Senior management has already taken a 10% cut.

Edinburgh’s Dundas & Wilson, Scotland’s largest law firm, is the 39th largest law firm in the UK. It employs 550 people in addition to 82 partners, across offices in Edinburgh, Glasgow and London.