Ince & Co, the maritime specialist law firm, is to make 32 redundancies in its London office, with three other roles are still under review. Of the redundancies, 25 are business services and seven are fee earners, while a salaried partner is also understood to have departed. The three roles still at risk include a managing associate who the firm said it is looking to relocate to an international office.
14 per cent job’s cut
The decision follows a consultation period which began in June, with the firm holding meetings with employees at which they were informed that between 32 and 36 fee earner and business services jobs were to be cut. The cuts constitute around 14 per cent of the workforce. Andrew Jameson, head of the firm’s London office, said ‘We recognise that that our recent restructure has been unsettling for all our people and want to thank them for their professionalism throughout the process, which was carried out in a fair and transparent manner to ensure that we have the right people, in the right place, doing the right jobs.’ The firm also announced that it will be subletting around 22% of its office space at its Aldgate Tower base, which it moved into in 2016.
Mr Jameson explained that after the move the firm invested in new technologies to ‘fully embrace agile working’ and ‘due to the success of this new way of working, the relocation of our international senior partner, and chairman and our recent restructure we have decided to sub-let a small proportion of our floor space in Aldgate Tower.’ According to the most recent published accounts, for the year ending 30 April 2017, the firm had 253 staff, and turnover in the year had increased by 9.6% to £51.7m, with operating profits jumping 46% to almost £11.2m.