HUNDREDS OF Scots working for solicitors and estate agencies have been made redundant as companies implement a series of widespread cuts that have been described as "worse" than those of the last market downturn in the late 1980s.
Several leading firms across the country have been forced to shed staff. Slater, Hogg & Howison, one of Scotland's largest firms, is said to have lost as many as 100 people over the past few weeks, although the company claims the figure is lower than that.
Estate agent Clyde Property has cut its workforce from 200 to 60 estate agents since beginning its redundancy programme in August.
Solicitors have also been badly affected. Firms McVey & Murricane and Pacitti Jones in Glasgow are also believed to have shed staff, although no-one at either firm was available to confirm or deny the information. Solicitors network GSPC has made about 10 people redundant over the past few weeks.
Peter Bolton King, chief executive of the National Association of Estate Agents, said: "Head counts are being cut across the country."
He added: "It is worse than the downturn in the late 1980s and early 1990s in that it is far quicker. Then the market slowdown was more gradual and companies had longer to adjust to the new conditions. Thanks to the credit crunch, and what has happened with the banks, companies now need to cut their costs much quicker."
Many of the job losses are believed to be among newly trained or support staff, as companies seek to protect their most experienced workers.
Henry Robson, deputy chief executive of the Law Society of Scotland, said between May and October this year more than 70 solicitors had been made redundant and about 40 traineeships had been postponed or cancelled. He said there were about 10,000 solicitors in Scotland.
Robson said: "Some of these people may have been made redundant and quickly found work again and some may have left careers in the law so these figures should be looked at in a wider context.
"The legal profession, like many other business sectors in Scotland, is feeling the effects of the current economic climate. While some firms are continuing to grow despite the difficult conditions, other sections of the legal profession have not just been affected by the current downturn, but by changes in legislation.
"As the representative body for solicitors, and working closely with paralegal colleagues, we share the profession's concerns and will continue to monitor the situation closely and provide support to our members. The impact of redundancy on anyone is huge and the society is concerned about individual solicitors who may have lost their job or are facing redundancy."
Bill Cullens, managing director of Clyde Property, said his company had tried to retrain as many people as possible to work in the lettings side of the business.
He said: "The market is down by about 50% and that is a very bitter pill to swallow for a firm that has employed as many people as we have. Yes, we have to make redundancies and I make no apologies for that, we would be mad if we didn't. The business was geared for very high volume and that is no longer the case. What really surprises me is that the boom has lasted for as long as it has."
Michael Luck, managing director of Slater Hogg & Howison said the number of staff his firm have made redundant was lower than 100. He declined to reveal the actual figure for reasons of commercial sensitivity.
He said: "We have lost people, but not as many as 100. The redundancies needed to be viewed in the context that we are one of the biggest firms in Scotland."
Mark Hordern, GSPC marketing manager, said his company had lost about 10% of its staff, thought to be about 10 people. He said legal firms were better placed than estate agents to survive the downturn because they could support themselves with other legal work.