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Linklaters managing partner Simon Davies has defended the firm’s decision to slash up to 270 jobs in London along with numerous roles around its global network, claiming the move is vital if the firm is to emerge as the “leading global law firm”.
Linklaters chief justifies ‘New World’ clearout" />Linklaters managing partner Simon Davies has defended the firm’s decision to slash up to 270 jobs in London along with numerous roles around its global network, claiming the move is vital if the firm is to emerge as the “leading global law firm”.
As revealed by TheLawyer.com (23 January), the firm has embarked on a strategic programme dubbed ‘Project New World’ that will see it overhaul its structure in a bid to become a smaller, more profitable operation.
Davies said: “We’re confident that we’ve got our strategy right. We’ve made it very clear that we want to emerge as the leading global law firm. We’ve got a very clear path to achieve that.”
Davies would not be drawn on the exact details of New World, saying they were still being finalised by the firm’s executive committee, but he stressed that the project would focus on more than just job cuts.
“New World is a wideranging strategic response to the changes in the financial markets,” he said. “An element of that is the need to match the headcount of the firm to actual demand. It’s vital for us to ensure that the firm’s in the right shape to meet the challenges of this new market.”
The first step is to reduce headcount dramatically across the firm’s international network. The bulk of these cuts will come in London, with the entire office now in redundancy talks.
At the end of a 90-day consultation, up to 120 City lawyers and 150 support staff, but no trainees, will lose their jobs. Jobs will also be cut from the firm’s international network.
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