Addleshaws and Irwin Mitchell make redundancies
Addleshaw Goddard has announced a new redundancy round, with 24 fee earning jobs at risk. Addleshaws reports, almost simultaneously, that profits per equity partner have risen by 37% while turnover rose by 5%.
The firm attributes the layoffs to the fact that senior, highly compensated partners are less likely to move in this unstable market, making cost cutting unavoidable. Paul Devitt, the firm's Managing Partner, said that "the proportion of our senior fee earners (particularly 7+ years' qualification) has steadily increased over recent years while all other levels have decreased". So "the difficult decision" had been taken "to rebalance the shape and size of our front-line fee earner resource by reducing the number of non-partner fee earners".
Meanwhile, Irwin Mitchell has confirmed that nine members of staff in the Business Legal services division were made redundant in April. A spokesperson assured the press that there is no further redundancy consultation programme underway at the firm, and there are no plans to begin one.
Read more at rollonfriday.com.comments powered by Disqus