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‘There were no compulsory redundancies. While it is always disappointing to see colleagues move on, we are confident that the steps we have taken are in the long-term interests of the business. We would like to thank all of our colleagues for their continued dedication during what has been an uncertain time.’

What cant! How sincere is a statement which, in effect, says that: 'we're upset that you're leaving us because we've told you that we no longer want you'? And for whom has it been 'an uncertain time'. Certainly not for the firm's equity partners!