Cobbetts real estate teams set for job cutbacks

Cobbetts has become the latest law firm to launch a redundancy consultation in its real estate practice as the market downturn continues to affect the sector.

The firm is hoping to keep the amount of redundancies below ten, but confirmed that the cuts are likely to include fee earners and will affect the firm's real estate teams in both Leeds and Manchester.

Commenting on the consultation, managing partner Michael Shaw said: "As a result of the impact of the downturn in the property market and the implications of this on the firm in the short and medium terms, Cobbetts is carrying out a review of its property business, with a view of entering into a consultation process with some employees.

"This process may result in some redundancies, but it is anticipated that only a limited number of people will be affected. Until the consultation process is completed, it would be inappropriate for us to comment further."

Earlier today (1 August) DLA Piper also announced a redundancy consultation, with cuts likely to affect fee earners from the firm's City-based technology, media and commercial group. It is understood that five fee earners have been affected so far.

The news comes after Cobbetts lost a five-strong property team to Halliwells in April, following a partnership shake-up at the firm. The Cobbetts real estate team currently has 127 fee earners.

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