8:29am Tuesday 15th July 2008
MAJOR North-East law firm Dickinson Dees yesterday announced possible redundancies in its division dealing with property matters.
The redundancies, if they happen, will be in its volume trading division d3 Legal, which records separate financial results.
In a statement, the Newcastle- based company said: "d3 Legal, the volume trading division of Dickinson Dees LLP, will be entering into a formal consultation process with staff beginning July 14 about possible redundancies.
"This follows a review of the division's financial results and the effect of the worldwide downturn in the financial markets on the UK residential property market.
"Full collective and individual consultations will be held to enable discussions with employees about the options available to them.
"There will be no further comment from Dickinson Dees LLP until the completion of the consultation process which will close at the end of August."
Last month, the firm said that the credit crunch would inevitably impact on the performance of d3 Legal with the re-mortgage and conveyancing businesses suffering a decline in turnover
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