THE region’s biggest law firm is to lay off around 70 staff as the credit crunch begins to bite.
Dickinson Dees has started formal consultations with employees in its d3 Legal division, which deals with its volume business such as conveyancing and re-mortgaging.
The division, which has a total of 169 staff, also includes the law firm’s 39-strong repossession and loss recovery team but they are not affected by the potential redundancies.
In a statement, the Newcastle-based law firm said: "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."
For more on this story see nebusiness in tomorrow's Journal.