Bakers makes 70 City staff redundant as LLP accounts filed

Twenty-one fee earners, 28 secretarial staff and a further 21 support staff in London have been affected by the consultation, which was first announced on 13 March.

The final number is in keeping with the firm's initial statement about the restructuring, which said that between 60 and 85 jobs were at risk in the City.

In an email to all staff, London head Gary Senior said that more than 90% of the redundancies were voluntary.

Separately, Bakers' limited liability partnership (LLP) accounts, filed this month with Companies House, showed that the firm's top London earner took home £826,787 in 2007-08.

The figure represents a drop of just over £77,000 compared with the previous financial year, when the top of the equity in London stood at £903,863.

Bakers' turnover in the year to June 2008 globally stood at $2.19bn (£1.44bn), up from the previous year's total of $1.82bn (£1.2bn).

London saw a more modest increase in revenue, with turnover growing from £111.5m in 2006-07 to £119.8m last year. Average profits per partner remained static at last year's mark of £590,000.

The LLP accounts showed that the number of fee earners in London increased by 22 during the year, rising from 365 to 387. Support staff numbers also increased, rising from 308 to 324. The rises in staff numbers is reflected in overall staff costs, which increased from £33m to £38.7m.

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