October 20th in Credit Crunch, News, Redundancy by jason2009 .

Redundancy Watch: Simmons & Simmons and Macfarlanes. US problems. Plus a small ray of sunlight.

As the dust settles after Brown’s bank bailout, it is clear that there is a lot more pain to be filtered through the employment market before the light appears at the end of the tunnel. With news of more redundancies leeching out every week…

Simmons & Simmons has made eight lawyers and nineteen service staff redundant. According to The Lawyer a Simmons source denied that either move was part of a redundancy ­consultation, but admitted: “Over the last 12 months we’ve …

Charles Tyrwhitt UK
 

As the dust settles after Brown’s bank bailout, it is clear that there is a lot more pain to be filtered through the employment market before the light appears at the end of the tunnel. With news of more redundancies leeching out every week…

Simmons & Simmons has made eight lawyers and nineteen service staff redundant. According to The Lawyer a Simmons source denied that either move was part of a redundancy ­consultation, but admitted: “Over the last 12 months we’ve been looking at ways to manage our fee-earners headcount and getting fee-earners where you have increased client needs.” The redundancies come following a three-year review of its wage bill.

It is understood that Macfarlanes is placing particular emphasis on its review of its lawyers’ performance this year. The firm holds performance appraisals every March and September, but managing partner Simon Martin admitted that the crisis in the markets and difficult conditions for its ­corporate and real estate practices would affect the review. Apparently up to 10 fee earners could leave the firm, ­having been told they were unlikely to make partner.

In the US…

Last week saw a large proportion of the remaining staff at Heller Ehrman laid off. The firm expects all lawyers and client matters to have left the firm by 26 November, after which there will be less than 100 administrative employees remaining to wind down the firm until 2009.

And, the US legal market faced more layoffs last week as two Chicago firms Katten Muchin Rosenman and Sonnenschein Nath & Rosenthal said goodbye to more than 40 associates.

On a marginally brighter note…

Clifford Chance is to offer three months pay plus half of individual annual bonuses to the 20 associates it laid off in the US last week.

And, Solicitors faced with redundancy­ and those already out of a job are to receive urgent help from the Law Society.The Society has prepared guidance to help lawyers with advice on negotiating redundancy packages, working notice periods, continuing professional development, finances, job applications and interview tips. It is understood that the guidance will be available next month.

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4 Comments

  • Haha
    October 20, 2008
  • anon
    October 20, 2008
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    October 20, 2008
  • anon
    October 20, 2008

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