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Profits slump at Norton Rose as a result of flexible working scheme

LawFuel.com – Legal Newswire Service – Norton Rose’s average profit per equity partner (PEP) figure fell by 17 per cent in the 2008-09 financial year, due in part to the firm’s decision not to make any job cuts.

The firm managed to increase its turnover by six per cent to £314m but PEP fell to £517,000 from a high of £625,000 last year.

Firm chief executive Peter Martyr (pictured) said he had known that profitability would “take a bit of a thump” after the firm decided not to cut staff numbers, instead opting to put employees on four-day weeks and paid sabbaticals

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