The Lawyer’s new China Elite report contains the most detailed research available on the PRC legal market and contains unparalleled insight into the country's leading law firms. They vary in size, practice focus and geographic coverage, but they all share one common quality – ambition... Read more
This year, The Lawyer’s annual ranking of the largest UK law firms by turnover is available as an interactive, digital benchmarking tool. For the first time this will allow you to manipulate each data set against the metrics of your choice.
CMS Cameron McKenna has created business responses for three potential scenarios as it prepares for a challenging year ahead.
The firm has made plans for how it would react in a situation of economic recovery, continued recession and prolonged depression, and has calculated how much money could be saved using its flexible working scheme.
The best-case scenario sees the firm meet budget for the 2009-10 year, while the most pessimistic model envisages a dramatic fall in income.
Camerons managing partner Duncan Weston said the initiative was set up to look at how cashflow would be affected by severe economic conditions.
He said that part of this was defining how many staff could be put on sabbatical or part-time working under the reduced working scheme, which has been dubbed ‘Flex’.
The plan allows all employees, except partners, to be put on four-day working at 85 per cent of pay or two-week unpaid sabbaticals.
It will remain in place for 18 months, having been supported by more than 90 per cent of staff in a vote that took place in June.
“We’ve made an assessment that X per cent of savings could be made with Flex and worked out what impact that would have on the various scenarios,” explained Weston.