McGrigors to cut 40 jobs in UK-wide redundancy round
Edinburgh-headquartered McGrigors has launched a redundancy consultation with the aim of cutting 40 jobs across its UK network of offices.
The redundancies are expected to affect fee-earners and support staff and will take place across the real estate, banking, projects and procurement, corporate, and risk advisory practice areas. The redundancy consultation, which began on Monday, is expected to conclude on 1 November.
In a statement a firm spokesperson said: “In May 2009 we announced a series of cost-saving measures which we hoped would allow us to ride out the worst of the downturn, protect jobs and safeguard the long-term health of the business in the event of an economic recovery.
“Unfortunately, over the past 12 months it has become increasingly clear that an immediate recovery is not going to emerge, and that we are instead facing a sustained period of market uncertainty – particularly while the effects of the public sector spending review become clear.
“This is not a matter which has been entered into lightly, and we do so only as a last resort. We’ve always endeavoured to do the right thing by our people and believe that everything possible has been done - such as secondments to clients or other departments, sabbaticals, flexible working, pay freezes - for as long as possible, to avoid this measure.”
McGrigors put in a fairly strong performance in the 2009-10 financial year, with turnover increasing 10 per cent to £69m.
While his meant the firm overtook Dundas & Wilson as the leading Scottish-headquartered firm by turnover (11 October 2011), the rise was the result of the McGrigors’ October 2009 merger with Belfast firm L’Estrange & Brett (28 August 2009) rather than representing underlying growth.
McGrigors last cut jobs in May 2008, when it laid off nine real estate fee-earners (30 May 2008).
View results 10 per page | 20 per page | 50 per page |
Readers' comments (81)
Anonymous | 20-Oct-2010 1:53 pm
No partners losing their jobs then? Just fee-earners and supports staff - what a surprise. Gutless. Firm is a mis-managed sinking ship, people should get out asap
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 3:42 pm
Anonymous, are you by any chance one of the 40 being made redundant?
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 3:52 pm
Sign of the times.
God, I'm so thankful I'm not a law student in today's world. What a waste of money it is!!
Getting a job in law is tough even in good times.
Unsuitable or offensive? Report this comment
Sigh | 20-Oct-2010 4:03 pm
To be fair, in theory at least, partners are the ones bringing in the work, so it makes no sense to cut their positions.
In theory.
Anyway where is there to go from the sinking ship?
Doom. Etc.
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 4:12 pm
Anonymous, I don't know, like many others I will find out next week after what will no doubt be a fairly conducted consulation process. I doubt I will go though. These ineffecutal and failing partners still need gimps like me to do their non-value grunt work while they sit around on their backsides crying over their figures and write-offs
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 5:04 pm
Wonder if I'll be able to claim back my 2 weeks unpaid leave?
Unsuitable or offensive? Report this comment
Scep Tick | 20-Oct-2010 5:22 pm
"To be fair, in theory at least, partners are the ones bringing in the work, so it makes no sense to cut their positions."
Well, yes, as they're failing by NOT getting in the work, so get rid of one useless partner, you save half-a-dozen assistants, support, whatever...
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 5:41 pm
I particularly like the comment from Scep Tick. Well-said! Spot on! It is better to have 2-3 partners who really generate business than 10-15 who are just sitting there thinking about retreats and other perks!
Unsuitable or offensive? Report this comment
EC3 | 20-Oct-2010 5:53 pm
The partners own the business, and got there by hard graft, so they get to fire people. Its the real world, and all you soft-in the-head socialists should wake up to it.
Unsuitable or offensive? Report this comment
Anonymous | 20-Oct-2010 6:35 pm
Staff morale is at an all time low. Some huge mistakes made at management level and everyone else is picking up the pieces
Unsuitable or offensive? Report this comment