Tresscox Lawyers has responded to redundancy hearsay that at least a dozen of its employees had been laid-off due to the global financial crisis (GFC).
"In response to the GFC, we are realigning and refocusing our practice to ensure we are in the best possible position to service our clients...as a result we have made a limited number of redundancies, each of which has been very regrettable," a spokesperson from Tresscox said in a written statement.
There have also been rumours that the lay-offs came in response to dwindling workflows and growing capacity, and largely affected junior M&A lawyers. However, the Tresscox spokesperson neither confirmed, nor denied this. "This is a challenging time for the firm and for our people - as it is for the community as a whole - so apart from this statement we will not be making any further comments," the spokesperson said.
Read more about redundancies in ALB's Redundancy round-up.