The redundancy consultation announced by BLM over the weekend will look at significantly reducing the firm’s headcount in Leeds, from 40 currently to around 19. All staff affected by the lay-offs will be given the opportunity to apply for positions in one of BLM’s 12 other offices. The planned cuts come as BLM plans to relocate to smaller premises in Leeds. BLM senior partner Mike Brown said the plan to create a ‘paperlite, lean office’ in Leeds forms part of the firm’s broader business improvement and modernisation strategy: ‘Regrettably, if this proposal goes ahead, the decision will have an impact upon our current team in Leeds and we are working closely with those affected in that office,’ he said.
Profit struggles
A UK Top 50 risk and insurance-focused firm, BLM was formed in 2014 through the merger of legacy firms Berrymans and HBM Sayers. The firm enjoyed a 3 per cent boost in turnover last year to £107.7m, but struggled with profitability. Profit per equity partner slumped 14 per cent to £205,000 over the course of the last financial year.
Sources: Legal Week; Legal Business
Email your news and story ideas to: [email protected]
