Another week of joy passes on our journey into the abyss. With Great Gordon being told by King Merv that we’re out of cash, what’s next for the British working professional? If you are one of the unfortunates wondering where the points of negotiation lie in a compromise agreement (or you already have one signed, sealed and gathering dust), you can at least console yourself with the joy of checking out how the other half live from the comfort of your armchair. Google Street View has stormed into the British consciousness and already run into trouble with the privacy junkies at Privacy International who have lodged a complaint with the Information Commissioner’s Office. Litigators at the ready…

On the subject of compromise agreements, US firm, Dechert, has just announced a worldwide redundancy programme and proposed to slash 125 jobs – 63 fee earners and 62 support staff. It is not clear yet how its London and Eurpoean operations will be affected but steel yourself. And while those who have made an early exit from a legal career might not exactly be enjoying their new found freedom, what of those left behind , wading on through the bloodshed? Much of the recent feedback suggests horrendous morale for survivors.

Fuelling the flames, Clifford Chance has announced fresh redundancies in New York – 24 associates face the axe. On the home front, the firm has contacted trainees due to start in August 2009 and February 2010 with an offer to push back their start dates. It is understood that up to 15 per cent of the two intakes of approximately 130 trainees are expected to defer for 12 months. The firm is offering £8,000 in cash with an additional payment of up to £3,000 for trainees who get involved with pro bono projects or take further legal or language studies.

And in a week where the issue of paying to get ahead in the legal profession has already caused a stir, it has been revealed that the cost of doing the BVC is going to increases significantly as providers outside of London bump up fees in a bid to “catch up” with their London competitors. And we thought inflation was a gonner.