London’s top law firms remain confident they will weather the global financial storm as the 15-month credit crunch begins to hit home in the form of targeted layoffs.

A Financial Times survey of the UK’s 12 largest firms by revenue has revealed that five – Clifford Chance, Eversheds, Simmons & Simmons, Freshfields Bruckaus Deringer and DLA Piper – have let associates go in response to the current crisis.