15 lawyer roles in real estate practice
CMS is reportedly cutting up to 15 roles in its real estate transactions practice in London.
This marks the second round of redundancies at the global law firm in just over a year. In September 2023, CMS conducted a redundancy round in its UK corporate team, with up to 19 junior lawyers losing their roles as the firm responded to challenging market conditions.
A CMS spokesperson told Financial News:
“The UK real estate practice group is currently undergoing a review within our London office. We are in discussions with those affected and cannot comment further at this stage.”
The redundancy consultation comes despite the firm’s strong financial performance last year. CMS recorded a 7.2% rise in UK revenue for the 2023-24 financial year, reaching £734.7 million. However, global profit per equity partner (PEP) dipped 4% during the same period, falling from £771,000 to £741,559.
CMS raised its junior lawyer salaries in London last October, increasing newly qualified (NQ) pay from £105,000 to £110,000. The Legal Cheek Firms Most List 2025 shows that the firm offers 95 training contracts across the UK annually, with first-year trainees earning £50,000 in London and £28,000-£43,000 in regional offices.
The redundancy consultation reflects wider trends in the legal sector, with firms continuing to adapt to fluctuating market demands. It follows cuts in 2023 to CMS’s corporate team and similar moves by other firms, including Reed Smith, which reduced its global workforce by 50 roles, and Orrick, which cut staff numbers by 6% the same year.