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).
Readers' comments (81)
Anonymous | 22-Oct-2010 11:35 am
Anonymous@3.27am - I've been at the firm for 8 years and can confirm there is no way Mcgrigors remotely resembles the place it once used to be.
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Anonymous | 22-Oct-2010 11:45 am
Anonymous @ 6.21:
"There are plenty of jobs available for lawyers".
Are you having a laugh?
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Bring back L'Estrange!! | 22-Oct-2010 11:59 am
The atmosphere in Belfast is one of fear! No one knows what the hell is happening but further job losses seem likely. agreeing employment T&Cs with McGrigors after the merger was like pulling teeth with a rusty spoon but a few months later they can't even maintain job levels. What next.......???
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Anonymous | 22-Oct-2010 12:49 pm
BAN FRUIT IN THE MORNINGS.
Oh, they already did that. Start charging for water??
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Anonymous | 22-Oct-2010 1:24 pm
Maybe they'll bring back the lunch vouchers!
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buy your own kilt? | 22-Oct-2010 1:46 pm
is it true that the are now making staff pay for their own kilts and private editions of braveheart?
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notaMastersfan | 22-Oct-2010 3:48 pm
i'm ex-Mcg and not a huge fan of the management there. I spent 4 years working in one offiice and billed well each year. I bumped into the managing partner one morning and he asked if I had seen a fee earner with my name.....? Arrogant clowns with zero business skills.!!
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Anonymous | 22-Oct-2010 3:55 pm
mostly good people there below p'ship level (some good p'ners too) but I agree with the mismanagement and partner/fee earner ration comments.
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Lee Easton | 22-Oct-2010 6:35 pm
A McGrigors board member who is also the head of one of the teams worst hit by these job losses was so concerned about his staff, that on the day of the announcement he was to be found holidaying in the Caribbean.
Nice touch.
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Anonymous | 22-Oct-2010 7:17 pm
What way is this firm being run? Redundancies yet they went to St Andrews for the partners conference all flash and no substance!
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