News Business Leadership Law firms Cuts and redundancies Camerons puts 20 partners on notice as close of restructure draws near By Margaret Taylor 10 February 2011 13:16 17 December 2015 15:28 Sign in or register to continue reading. It's FREE Sign in Email Password Keep me logged in Forgot your password? Not registered? It's FREE! Register now Register with The Lawyer Anonymous 10 February 2011 at 14:22 Camerons has always been built with smoke and mirrors, with marketing instead of substance – Dunky being one of those without much substance. Is it not on his watch that profits have gone down? Reply Link Schadenfreude 10 February 2011 at 15:02 I wonder how many of the Camerons partners who are to be kicked out, or (oh the shame!) de-equitised, were the same partners who voted for Duncan’s great outsourcing project in the name of boosting their profits? I remember at the time the Integreon story broke one poster said something about: ‘those of you who support this, watch your back, because you’ll be next’ – and they were spot on. Also, to those associates clapping because partners are being kicked out too, remember what this means – smaller, tighter equity with higher PEP = a much higher hurdle for your entry, i.e. no future for you here, mate. End result, everyone’s a loser, aside from the equity partners who remain – although the axe will never be far from their necks from now on. Better get out the Prozac. Wonderful thing isn’t it, a commercial law firm in 2011? Reply Link How about this? 10 February 2011 at 15:55 Just had a silly notion. Nonsense really. Rather than restructuring, outsourcing, and redundancies, why doesn’t the management team at Cameron McKenna actually focus on bringing in new client and more fee income from existing ones. Daft, I know, but it’s just a thought. Sure, you might have to live on profit shares of £450k fo a year or two but times are hard for everyone. Just a thought. Ps can we have a new picture of Duncan please – I imagine he’s aged a bit since the one you use? Reply Link Anonymous 10 February 2011 at 15:57 It will be interesting to see their statutory accounts to April 2011 in due course. Presumably they’ll need to bring in a full provision for the cost of redundancies as this has now been widely announced. So I can’t see your profit shares going north any time soon, boys. Unless you ‘do a Halliwells’ of course and distribute any upfront payment from Integreon. But you wouldn’t do that, would you? Reply Link Anonymous 10 February 2011 at 15:58 Nice to know that Bristol is considered out there in the same uncivilised wilderness of cheap fees as our friends in Asia… Reply Link Daily Times 10 February 2011 at 16:06 I love the weekly, nay daily reports, on these websites, about Cameron Mckenna. It was sold to me as ‘the best kept secret in London. Maybe 3 or 4 years ago it was. But now, my foot. I feel sorry for the support staff but I do have to laugh at the hole the management team have dug for themselves. They’ve bet the ranch and only time will tell if it’s successful. Reply Link Stephen Pipes 10 February 2011 at 16:34 What Camerons needs to do is: 1. Merge with all the other CMS firms to build a proper integrated firm and enable cost savings to be realised and greater scale to fund investment and expansion. 2. Merge with Simmons & Simmons to build out the corporate and employment practice. 3. Merge with Barlow Lyde & Gilbert to build out the insurance practice 4. Merge with Clyde &Co to build out in litiigation 5. Merge with K&L Gates to develop a meaningful presence in the U.S. Merge or die Reply Link Dayglo Dave 10 February 2011 at 17:04 Presumably the good news for partners who are being squeezed out is that they can at least say to prospective new employers that they chose to leave on account of falling profitability, low morale, etc. That hasn’t been the case with some of the other “restructurings” that we’ve been seeing over the past couple of years. Reply Link Pop will eat itself 10 February 2011 at 18:34 Pay-what-you-think-it’s-worth. Inspired. Reply Link Hugey 10 February 2011 at 18:51 Guess I called the job cuts. Reply Link Peter Blair 11 February 2011 at 10:06 There should be a whole branch of mathematics for law firms: “Hmmm. Profits are falling. But if we cut the number of Equity Partners enough, then our PEP will increase! Yippee” Reply Link Anonymous 11 February 2011 at 10:15 As part of the CMS team, I can confirm that all the views above are wrong. The partnership always needed trimming more than the initial cut and going forward we’ll have a much more streamlined and dynamic partnership, but now without the baggage. The partners who have gone added very little in terms of clients, leadership or knowhow. To be clear, there is no link between this and Integreon other than the business restructuring into a leaner and more profitable position generally, which is the goal of every business. Suggesting these are the desperate acts of management on a sinking ship is ridiculous. Fair play to Duncan, the partnership issues he’s resolving were problems created 5-10 years ago and the Integreon outsourcing will become the norm over the next 18-24 months across the City. Currently, the work is really good and this will come through in the press over the next 4-6months. Reply Link Hugey 11 February 2011 at 10:20 ‘going forward’ ‘streamlined’ ‘dynamic’ Reply Link Rousseau 11 February 2011 at 10:34 @ Anon 10.15am, (AKA Duncan’s Little Creature) Glad you can ‘confirm the above views are wrong’ – sounds like some bizarre offical pronouncement from North Korea. Also, what a way to talk about senior people you work with – ‘baggage…who added little in clients or knowhow’. Is Camerons really turning into such an uncouth and nasty place? And believe me, what will ‘come through in the press in the next 4-6 months’ is not something Duncan has any control over. (P.S. if you are a CMS PR person trying to do something about the negative headlines then this is not the way to do it. I suggest you seek professional help.) Reply Link oops 11 February 2011 at 11:15 @Anon 10.15am ‘Fair play to Duncan, the partnership issues he’s resolving were problems created 5-10 years ago’. Would be interesting to hear Dick Tyler’s views on this… Reply Link Green Tea 11 February 2011 at 11:58 Blimey, haven’t some people from Barlows just joined this lot. Talk about out of the frying pan and into the fire! Reply Link Anonymous 11 February 2011 at 11:59 Hey CMS team member: really classy comments. Your mum must be really proud of you. Reply Link Anonymous 11 February 2011 at 12:31 Oh dear, what started out as a difficult, but ultimately acceptable, decision for CMS to make in tough economic times has morphed into a PR disaster. How reassuring for the unfortunate individuals involved to be described as “baggage”. A real motivator as they begin the difficult journey of acceptance and finding new careers. Well done to all involved! Reply Link Anonymous 11 February 2011 at 16:45 Duncan – highly ambitious and deadly ruthless. I say what goes round comes round. Reply Link Anonymous 12 February 2011 at 00:00 I was almost feeling sorry for Camerons on reading some of the comments; they seem to make a speciality out of getting adverse publicity for things that other firms do routinely such as outsourcing and reducing their partnership. But the comments of @ Anon 10.15am, disparaging the departing partners, are a disgrace. Does he/she really think this was appropriate? If this person is representative of the type of people running Camerons at the moment then they deserve all the flak they get. Reply Link Non-CMS team member 12 February 2011 at 02:27 Whether or not that person above is actually part of CMS is irrelevant: the damage has been done. This has come across extremely badly, and relying upon the comment section of The Lawyer to defend yourself – legitimately or not – isn’t acceptable, and definitely isn’t respectable or classy. CMS live up to their reputation as a chippy firm that’s a horrible place to work. Reply Link Puzzled 12 February 2011 at 12:51 Is the firm shrinking then? Reply Link Name Email Cancel reply Threaded commenting powered by interconnect/it code.