Comments on: Redundancy Watch: Linklaters 270, Hammonds 77, Mo Fo and Banks. But Some Aim to Retain.

By: Redundancy Fallout: Linklaters and A&O | Solicitr

Redundancy Fallout: Linklaters and A&O | Solicitr — Tue, 18 Aug 2009 09:16:20 +0000

[...] Linklaters global program, dubbed Linklaters New World (no longer, the moniker itself now redundant), saw the firm laying off around 400 employees including 200 lawyers and 200 business support staff. Allen & Overy cut approximately 450 jobs in a £44m restructuring programme. The cuts affected 200 junior fee-earners and 250 support staff; 47 partners also went. [...]

By: The Week: Lovells Redundancies and Salary Freezes, Slaughters Gets Chilly and Norton Rose Full of Flex | Solicitr

Fri, 03 Apr 2009 11:48:17 +0000

[...] they have instituted a fairly drastic restructuring programme , Linklaters are the only magic circle player yet to announce a salary [...]

By: Damp Summer in Store for Vac Schemes? | Solicitr

Damp Summer in Store for Vac Schemes? | Solicitr — Tue, 17 Feb 2009 11:08:48 +0000

[...] partners being forced to walk the plank bringing in the prospect of serious restructuring such as Linklater’s New World strategy. Finally Freshfields opened up the gates on associates salary freezes. The areas [...]

By: Redundancy Watch: Lovells, Linklaters. But Magnanimous Moves at Mills & Reeve | Solicitr

Mon, 09 Feb 2009 12:09:04 +0000

[...] & Co and Ashurst have also taken similar decisions to look at alternatives to redundancies recently . Such moves have obvious benefits for both sides of the [...]

By: The best

The best — Thu, 29 Jan 2009 14:42:11 +0000

Linklaters are the best in the City. Others should watch and learn – the firm will be even further ahead of its competitors when things improve.

By: anonymous

anonymous — Thu, 29 Jan 2009 14:34:34 +0000

Associates may not like it but they didn’t mind bloated starting packages and they status that came with them. You have to roll with the punches whatever you do. Links, Clifford Chance and others seem to me to be making practical decisions in the best interests of their businesses in the worst downturn since the WW2.

By: cynic

cynic — Thu, 29 Jan 2009 14:30:18 +0000

There is a lot of speculation about Linklater’s motivations on this and that is probably what it will remain. Fundamental problems seem unlikely but are always possible so restructuring may be ‘necessary’ in the literal sense – yea right. Seems soft credentials are rapidly wilting as some firms start to come clean about the only thing that really matters to them – profitablity. What an opportune time to rid yourself of your least profitable clients and least profitable employees in a bid to stay at the top of the PEP tree.

Business is business but the veneer of humanity in the good times smacks of hypocricy when a few scratches reval what lies beneath.

By: anon

anon — Thu, 29 Jan 2009 14:11:48 +0000

I have uni friends who have worked at Links; they knew it would be tough at the top but there has been growing resentment for management recently – knowing you are playing with fire and actually getting burnt are two different things. Being kicked in the balls hurts whether you are a tough guy or not.

By: chef

chef — Thu, 29 Jan 2009 14:07:14 +0000

I agree with 4 to some extent. Unlike smaller firms that don’t want to damage their image with potential recruits, Linklaters can probably get away with this as they will attract the sort of trainees who see tough business love as a good thing and go in with their ‘eyes wide open’.

By: anon

anon — Thu, 29 Jan 2009 14:02:15 +0000

They are either totally desparate for reasons unknown or totally ruthless for reasons of greed!