Law firm gives staff 拢1,200 cost of living bonus

Image source, Getty Images

A Scottish law firm has set aside 拢200,000 to help its staff deal with the rising cost of living.

Ledingham Chalmers said each member of staff employed on 10 October, and not serving notice, will receive a one-off bonus payment of 拢1,200.

It is part of a 拢400,000 pot for staff, including discretionary bonuses and a performance-related pay scheme.

The firm employs 176 people, including 27 partners, at offices in Aberdeen, Edinburgh, Stirling and Inverness.

Managing partner Jennifer Young said: "Everyone is dealing with a rising cost of living, and we haven't underestimated what that means for our colleagues, so it's important we take steps to provide as much support as we can."

The announcement came as the firm reported its highest annual turnover - 拢12.8m - since becoming a limited liability partnership (LLP) in 2006.

Turnover last year for the group, which includes subsidiary Ledingham Chalmers Financial, was 拢13.6m, compared with 拢12.3m in 2020-21.

The company said there had been a "strong performance across the board", including in staple corporate and commercial practice areas.

Ledingham Chalmers has set a target of doubling its turnover to 拢25m by 2025, in part by expanding its commercial offering through strategic mergers and acquisitions.