Legal Week (UK) is reporting…
That UK Magic Circle firm Herbert Smith has announced a redundancy consultation, with up to 84 positions facing the axe as of Monday this week
Legal Week write:
The cuts, all of which will come in the firm’s London office, are expected to see up to 84 full-time equivalent roles going, of which up to 30 are likely to be fee earners.
Corporate is expected to lose up to 24 fee earners and professional support lawyers (PSLs) as well as nine paralegals, with the firm’s real estate practice likely to lose nine fee earners and PSLs.
In addition, up to 42 secretarial and support staff roles have been placed under threat.
The firm is hoping to achieve most of the cuts through voluntary redundancies and is also considering alternative working arrangements.
Herbert Smith has also announced that it will be freezing pay for all London staff, with the exception of trainees, with the rate for newly-qualified lawyers dropping to £60,000 from September 2009.
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