Pinsents rolls out cost-cutting plan as firm aims to stave off job cuts

Pinsent Masons has announced a package of cost-cutting measures in an effort to avert widespread job cuts at the firm.

Pinsents is rolling out a number of measures, including sabbaticals and part-time working, which will be encouraged across the firm following a successful pilot project.

The UK top 20 firm confirmed that a number of jobs - including fee earners and support staff - will come under threat, but stressed these would be kept at a minimum.

Pinsents is also set to increase the number of lawyers on secondment from 30 to 50, with a number of those transferring to Salans offices after the recent confirmation of the strategic alliance between the two firms.

In addition, 25% of trainees from the firm's September intake have been deferred, while a pay freeze has been introduced across the board.

The firm is also moving a number of lawyers around the business, with corporate partner Alan Wood relocating to Dubai to grow the corporate practice in the region, while projects partner Ian Laing will transfer to the Asia-Pacific region.

Pinsents managing partner, David Ryan commented: "We wrote to staff yesterday about our plan for the recession which we have been working on for about four months. We will try everything we can to keep job losses at a minimum."

In addition, the firm has announced its financial results, posting a 1% increase in revenue.

The national firm saw turnover reach £215m for 2008-09, compared to £213m for the previous financial year.

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