The enormity of the downsizing at the UK’s top firms has been revealed today (see story).
The Lawyer’s research into firms’ LLP filings highlight the pain they - and more pertinently their lawyers, staff and partners - have endured. The figures confirm that it truly has been an annus horribilis for many firms.
Clifford Chance, once the UK’s largest law firm, would prefer not to top this particular list. But according to Companies House filings the magic circle firm has seen more partner departures than any other firm surveyed.
Certainly the axe fell heavier on CC than at its magic circle counterparts. And it’s notable that Linklaters and A&O, both of which had larger restructurings in terms of total UK layoffs, saw considerably fewer partner exits.
Still, these figures pale (relatively, at least) when compared with those at Eversheds. The firm, primarily thanks to its outsize real estate practice, has seen a total of 735 job losses since the downturn began.
Eversheds has effectively off-loaded a decent-sized law firm.
For more detail on how the recession has affected the UK’s top firms - including your own - don’t forget to check out The Lawyer Directory, which includes individual write-ups for all the firms in the top half of this year’s UK 200 Annual Report.
Also TheLawyer.com: Nabarro is shaking up its traditional UK focus and going international; former Kirkland & Ellis restructuring star Lyndon Norley joins Greenberg Traurig Maher; and Bevan Brittan’s former chief executive Stuart Whitfield exits the firm less than a year after the partnership voted him out of the top job.