Profits vs people - firms should tread carefully on staff cuts
"Even with a hard-nosed view of the profession, the context in which large commercial law firms manage their staff does matter. Times are hard, but they are not yet like 2009 when most firms had to push through major restructurings of their cost bases..."
As I posted last week on our online story, I do genuinely admire Addleshaw Goddard’s honesty in announcing a redundancy consultation on the same day it said that partner profits were up 37%. It’s the kind of frankness that isn’t too common among large UK law firms, which still rather favour sneaking out staff through more discreet means if possible. But, as to the decision itself, hmmm, that’s a tough line to sell.
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