Redundancy Watch: Herbert Smith
The fallout from yet another redundancy consultation hits as Herbert Smith completes its April review. Eighty-four members of staff have been laid off in London. Twenty-four positions have been axed from the firm’s corporate team along with nine paralegals. In the firm’s real-estate department another 9 fee earners and PSLs have been laid off. Elsewhere 42 secretarial and support staff are also heading for the exit. The consultation, which concluded at the end of last week, saw most of …
The fallout from yet another redundancy consultation hits as Herbert Smith completes its April review. Eighty-four members of staff have been laid off in London. Twenty-four positions have been axed from the firm’s corporate team along with nine paralegals. In the firm’s real-estate department another 9 fee earners and PSLs have been laid off. Elsewhere 42 secretarial and support staff are also heading for the exit.
The consultation, which concluded at the end of last week, saw most of the leavers opt for voluntary redundancy. The terms were fairly decent for fee-earners: three months’ notice in addition to three and a half weeks’ pay for each year of service, with everyone receiving a minimum of ten and a half weeks’ pay whatever their length of service.
We know its tough for laid-off lawyers but it probably beats being a trucker .
May 27, 2009
nooooooooo
May 27, 2009
The payoff was more than they were expected to give apparently.
Which is nice.
May 27, 2009
i thought all this wasl over!
i guess the economy isnt going to pick up anytime soon.
:+(
May 27, 2009
epic fail – where do all these people go now?
what happens when the market picks up
i wish them well but I’d be petrified
May 27, 2009
Err, so presumably the ad for corporate pqe 2-5 at Herbies on the right of this page is a bit out of date.
May 27, 2009
haha