Lovells to slash 94 jobs

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  • Lonely post

    Does the puny response on the comments board here to 94 jobs going at Lovells mean that people don't really care about cuts anymore? Interesting to see that in comparison, at time of writing, there were 26 comments on the Freshfields pay freeze. Does this mean that people are more peturbed and angry about a firm maintaining high pay levels, as compared to a firm that has just expelled almost a 100, until now, valued staff?

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  • Dazed and confused

    I think the lack of comments is because the 'till now valued' staff are still walking around in a daze wondering what's hit them, and even more worried because of the suggestions that this is just round 1 of many! How this happened in spite of the great performance we were all being told about remains a mystery....

    watch this space...

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  • well all affected by redundancy so far have my sympathies

    While some of us may have escaped it until now but I suspect we will all learn over the next 12-18 months that nobody (and no firm) is safe.I am certainly less worried about the prospect of a salary cut than I am about a job loss.
    Now find me the unemployment insurance helpline.

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  • Yet another cut of the knife ...

    ... to make the meat leaner and tastier for those left behind to enjoy the feast. After a "reasonably good" performance in a very challenging and tough environment, it's all a question of balance and where your priorities lie. Sadly, in the rush to cut costs and maintain solid profitability, it's not surprising that worrying "uncertainties" so very easily become harsh certainties (at least for the select (94) few).

    That's one way of coping with the challenges. Pretty unimaginative, I'd say. The Freshfields approach is another. Part-time working or even (let's be totally radical) re-investment by partners into the firm to maintain their headline PEP yet also underpin a part of their "overall cost base" might be another.

    And they don't even have the fig leaf of a New World strategy to hide under. Let's hope that their skins are tough and their redundancy packages generous!

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