Freshfields to launch ‘cross fertility’ programme
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Freshfields Bruckhaus Deringer, the only magic circle firm not to have announced a major redundancy consultation, is to launch an intensive two-week programme to reassure associates that they have a future with the firm.
From next week the firm will run up to 100 presentations led by senior management, business services staff and associates with the aim of encouraging people to broaden their individual practices.
London managing partner Tim Jones (pictured) said: “A lot of people feel that in this market we have to cross-fertilise all practice areas and make sure everyone is up to speed with our clients and what’s going on.
“Everyone is worried about what the world will look like and what London will look like. The driving force behind this is that one thing we do know is that our practices will be different and the skills people will need will be more varied.”
He added: “We’re seeing people working across practice areas already - we’ve got that in restructuring.”
Following the upsurge in restructuring work the firm identified groups of lawyers in other, less busy practice areas who could help bulk up numbers in the insolvency practice.
Jones added: “There’s an appetite to get skilled up and make more connections with different practice areas. Ultimately we want people to be as flexible as possible.”
While Freshfields laid off up to four real estate associates last year (19 September) it has not yet launched any formal redundancy consultations.
Earlier this month Clifford Chance announced that it would be laying off up to 80 lawyers in its London office (8 January) and Allen & Overy began redundancy talks with 10 lawyers in Hong Kong (16 January).
Linklaters is currently in talks with its entire London office with the aim of cutting up to 270 jobs (29 January).
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Readers' comments (21)
Anonymous | 29-Jan-2009 4:23 pm
Fact checking
'only magic circle not to have announced a formal redundnacy programme' - what about Slaughters and A&O?
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Mike | 29-Jan-2009 4:27 pm
last post
Slaughters aren't magic circle, and A&O has announced a major redundancy programme.
Can I have a job at The Lawyer please?
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Anonymous | 29-Jan-2009 4:55 pm
Duh
Isn't this something that should have been done in the past?
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Anonymous | 29-Jan-2009 5:23 pm
only a matter of time
don't people think it is only a matter of time before FF and A&O announce formal and wide reaching redundancy programmes?
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sn | 29-Jan-2009 5:24 pm
mike
Slaughters isn't magic circle?
Moron.
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Mike | 29-Jan-2009 5:26 pm
That's right...
...Slaughters isn't magic circle. As is well known. You moron.
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Justice | 29-Jan-2009 5:30 pm
Squaring the circle
Slaughters is in the Magic Circle, but not the Magic Square :))))
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Jane Smith | 29-Jan-2009 5:46 pm
Justice
http://en.wikipedia.org/wiki/Slaughter_and_May
it is magic circle. moron
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Mike | 29-Jan-2009 6:09 pm
Wikipedia
That list also has Herbies as a contender. Way out of date!
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Anonymous | 29-Jan-2009 8:48 pm
What about New York
Why aren't the top New York firms also laying off their associates? Consider Cravath, Wachtell, Davis Polk and S&C. None have announced redundancies -- and none will. Just watch.
For years London has explained its low salaries compared to the Wall Street firms in terms of the more friendly London work hours and other conditions. But when push comes to shove, it's the London firms that are ditching their associates. London firms pay their associates less AND get ride of them when times are tough. Just as the top NY firms pay mandatory bonuses to all associates, they retain their staff -- in good times and bad. That's professionalism. London firms should wake up to their small town attitudes and budget-priced law firms.
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