Edinburgh-based investment giant Baillie Gifford has confirmed reports that it is considering making redundancies in an effort to “stay resilient.”

Fewer than 50 staff may be affected.

Baillie Gifford has about 1,640 staff around the world and roughly £210 billion of assets under management and advice.

A Baillie Gifford spokesperson said: “To stay resilient in a shifting client and business environment, we’re making strategic decisions that may result in some redundancies.

“We are currently consulting with a small number of colleagues whose roles are at risk.

“These are tough choices, but they will be treated fairly, with respect.”