The redundancies follow cuts made across the company’s international outposts to deal with the economic effects of the pandemic.

It has closed its Singapore and Dubai offices and downsized others, resulting in 60 job losses.

In its trading update this morning it said these outposts made up 1.5 per cent of the group’s revenues and lost a total of £4.5m in the last financial year.

A spokesperson for the firm said in a statement: “We have begun a consultation process with groups of colleagues in central services. We will not be able to make any further comments at this stage.”

The firm confirmed revenue has risen by 12 per cent to over £300 million. It expects cuts to result in £18.5m of savings over 2021.