Business
British law firm DWF sheds two-thirds of Australian workforce – The Australian Financial Review
The loss-making local operation will focus on its insurance practice in Brisbane and a business advisory unit in Sydney and Melbourne.
Expansion was rapid but unprofitable. In a statement to the London Stock Exchange on Monday, the company said it expected a loss of £3 million to £4 million ($5.4 million to $7.2 million) from the Australian operation in this financial year.
Although there would be some one-off costs associated with closing the non-insurance parts of its legal advisory arm in Australia, overall these changes are expected to be earnings enhancing, the statement said.
Mr Doughty said the team in Brisbane would focus…
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