DAC Beachcroft and Eversheds Sutherland have joined a handful of City firms in returning the money they received from the government via its job retention scheme.
Managing partner of DAC Beachcroft David Pollitt said the firm had enjoyed a strong half year and that repaying the furlough money was ‘the right thing to do’.
‘We welcomed the support offered by the government at the start of the pandemic, and we opted at the time to make careful and limited use of the furlough scheme,’ Pollitt said. ‘We have performed well up to the half year, and repaying the furlough monies we accepted earlier in the year is the right thing to do. We are continuing to take a prudent approach to our finances, as we believe the next few months will continue to be challenging.’
Osborne Clarke, which placed 116 employees on furlough during lockdown, together with Herbert Smith Freehills, Norton Rose Fulbright and DLA Piper, have also returned their furlough packages.