LORD Mandelson was effectively sacked by his own firm today as Global Counsel 'cut ties' with him.

Colleagues were said to have concluded there was 'no way back' for the disgraced Labour peer after the torrent of sickening emails showing how he helped his 'best pal' child sex predator Jeffrey Epstein as the FBI closed in.

The bitter pill will be sweetened by Lord Mandelson walking away with a cash bonanza from his stake in the influential advisory firm he co-founded, estimated to be worth some £8million.

According to Bloomberg News, which broke the story, one source said Global Counsel never had anything to do with Epstein and was 'appalled' by the revelations.

Lord Mandelson was sacked as the British ambassador to Washington on Thursday after Sir Keir Starmer's government was blindsided by a flood of emails described as 'disgusting' by Cabinet ministers and 'reprehensible' by the Prime Minister.