Freeths pay back Job Retention Scheme funds

15th July 2021

National, top 50 commercial law firm, Freeths LLP, have announced they are paying back in full the funds received from the government’s Job Retention Scheme, following an exceptional effort in exceeding the firm’s 2020/21 COVID-adjusted targets.

Along with repaying the furlough monies, Freeths have also repaid staff for a 3-month salary reduction, paid all staff an 8.5% bonus and accelerated the annual salary review.

Karl Jansen, National Managing Partner at Freeths, commented, “Following review of our year end position, we are in a stronger position than we anticipated when the pandemic first hit. A great deal of hard work and effort went into achieving the excellent year end result, with. the firm exceeding £100m turnover for the second year in succession and exceeding budget by over 6%”.

Freeths’ Chairman, Julian Middleton, said, “Thanks to the exceptional efforts of our hard-working partners and staff, and the strength of our client relationships, the year ultimately turned out much better than we expected.  We were rightly cautious in our approach to the pandemic, but avoided the worst of the impact. We believe that paying back the furlough funds is very much the right thing to do.”

He added, “We really appreciate the way that all our people came together to support our clients through such a difficult period.  With the end of lockdown in sight, we are in a strong position to continue to provide an inclusive and rewarding place for our people, and to deliver excellent service to our clients.”

You might also be interested in

BCC Respond to New Trade Framework Deal with Indiana

Fri 27th May 2022

Reacting to news of the deal, William Bain, Head of Trade Policy at the BCC, said:

How CT supported ASI Security Systems in staying Cyber Secure

Fri 27th May 2022

ASI Security Systems Ltd asked CT to help their organisation achieve the Cyber Essentials Plus certification, and we provided them with the immediate necessary work to achieve the accreditation, which they passed successfully.

Owlerton Stadium leads the way with their upcoming investment plans

Thu 26th May 2022

The A&S Leisure Group are delighted to announce that Owlerton Stadium is showcasing its continued support for ensuring greyhound welfare remains at the heart of our sport with a racetrack replacement.

Wake Smith pledge support for South Yorkshire children’s hospice

Wed 25th May 2022

Sheffield solicitors Wake Smith will spend the next year raising money for South Yorkshire children’s hospice Bluebell Wood.