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.
I hate being the bearer of bad news but unfortunately theres no escaping it at the moment. This week has witnessed further bloodshed in the legal sector with another wave of stories concerning job losses hitting the headlines.
Denton Wilde Sapte is in redundancy consultations, which could see up to 80 members of staff losing their jobs and 37 positions are hanging in the balance at LG after it launched a second consultation.
Meanwhile, Addleshaw Goddard has cut 19 from its partnership and Ashurst is to cull ten equity partners proving that even the most senior members of a law firms workforce arent immune from the economic crisis.
And if that werent bad enough another law firm has gone bust. Leeds-based Fox Hayes has gone into administration a month after the departure of its commercial and private client teams for Lupton Fawcet. It is understood that some 115 jobs could be lost as a result.
Thankfully, there are some green shoots. The Lawyer, on Monday (19 January), reported not just one but two stories of major law firms in expansionist mode. The first is Berwin Leighton Paisners extraordinary move in taking on no fewer than 70 lawyers in Moscow (see story). The second is the news that CMS Cameron McKenna is actively seeking a bolt-on with a smaller firm, preferably with a corporate bias (see story).
Whats more the job market for trainee solicitors is continuing to fight back. Despite a gloomy report published by High Fliers last week, which found that the graduate recruitment market will shrink significantly in 2009 law firms insist that they are not planning to hire fewer trainees (see story).
That said, were still a long way off from 1 September, the earliest date on which law firms can make training contract offers to students in their penultimate year of study. And with most experts unable to predict how long the recession will last its surely too early to predict whether firms will eventually scale back trainee recruitment? Im certainly not banking on it.