Almost 20 jobs are believed to be at risk in one of Northern Ireland's largest law companies.
BBC News understands that Tughans, founded in 1896, is expected to shed close to a sixth of its employees including solicitors and support staff.
A spokesman for the company said it was looking at a range of cost-saving measures.
These include the closure of its Lurgan office and "restructuring" at its Londonderry premises.
A spokesman for the Law Society of Northern Ireland said he was aware of a number of firms where staff had recently been "made redundant or had their working hours reduced".
"The society believes that this is symptomatic of the present downturn in the housing market and the economy which is affecting solicitors' firms and support staff along with many other professions," he continued.
"We are naturally concerned and have been actively engaged in a series of meetings with assembly ministers and MLAs in respect of addressing the economic and housing market situation."
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