Eversheds launches fourth round of job cuts with further 22 to go
Eversheds has launched its fourth redundancy consultation with 22 real estate lawyers at risk.
The national firm is in talks with real estate lawyers spread across its UK offices and will pay those leaving will receive the statutory minimum in redundancy compensation. This will equate to one week’s salary for every year worked for those who have been with the firm for over two years, in addition to normal salary payments throughout any notice period.
Eversheds head of real estate Julie Stobart said: “There will be roughly two lawyers lost in real estate in each office. We’re also considering various flexible working options.”
The firm is discussing flexible working initiatives such as job sharing and sabbaticals.
Stobart said: “We’re encouraging people to come to us with ideas on flexible working.”
Earlier this year the firm cut 10 members of staff from its London-based real estate team in its March round of redundancies.
In September last year The Lawyer reported that Eversheds had cut a total of 33 employees and closed its Norwich office in response to the property market downturn (4 September 2008).
Readers' comments (7)
Big Bry's Coiffurist | 10-Sep-2009 1:52 pm
Statutory minimum again I presume. How can a firm so tight with its staff have such a poor profit margin? Maybe the Exec should take a look at themselves?
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Anonymous | 10-Sep-2009 4:24 pm
Surely it was double that figure, with 90 support staff and more compromised out???
Next the rest will be down to 4 days week (still 1800 chargeable hours a year) and then shut Cambridge Newcastle and Nottingham.
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ScoobyDooDoo | 11-Sep-2009 9:41 am
Eversehds? More like Evershedding
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Anonymous | 11-Sep-2009 10:49 am
According to the Job Watch figures Eversheds has (officially) made or will be making 735 redundant thats is an astounding figure even in this economic climate. Are there any associates actually left or is it just the partners.
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Anonymous | 11-Sep-2009 4:04 pm
Any associate would need to think very carefully before joining this ship. It seems to be treating its staff with utter contempt. Whatever its partnership might think, Eversheds is a decidedly average brand and its value as a destination for any decent lawyer is dropping fast.
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Anonymous | 14-Sep-2009 7:37 pm
I think that the firm has lost it's way in its handling of its staff and its position in the legal market place. As for considering flexible working - well I doubt it will offer flexibility for the employees selected.
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Larry La-La-Land Lamprey | 21-Oct-2009 5:47 pm
How many jobless lawyers now?
Pro-bono (unpaid experience in a Depression....whoops Recession.....sorry!! "Credit Crunch") existence on benefits with a portion of chips please.
Or one could flip burgers. Protein and dexterity. Global Company. CV's looking better by the second!
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