Simmons & Simmons has posted a 25 per cent newly qualified (NQ) retention rate for March 2012.
The top 20 law firm made three offers to the six trainees that applied for positions in the firm out of a eight-strong cohort. However, only two accepted NQ roles at the firm.
This is a massive drop from its spring 2011 qualifying round, where the firm achieved a comfortable 80 per cent retention rate, keeping 12 out of 15 trainee solicitors.
It is also lower than summer 2011 when the firm announced it was keeping only 10 out of 17 trainees, giving it a 59 per cent retention rate.
Linklaters was the final magic circle firm to reveal its spring retention rate, with Allen & Overy, Clifford Chance and Freshfield Bruckhaus Deringer posting rates of 89 per cent, 76 per cent and 85 per cent respectively (27 January 2012).