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).
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Readers' comments (81)
The story rumbles on.... | 28-Oct-2010 10:20 am
I'm not surprised by the interest in this story or the Belfast focused stories. Things seem to be unravelling in Belfast. Maybe the stories that the L&B partners can't work together aren't too far off the mark. The hope that a new name above the door and new management would change things is obviously fading. Apparently the bookies have closed their book on odds for an exodus of partners in Belfast and a new L&B re-emerging from the ashes....
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Anonymous | 28-Oct-2010 4:34 pm
I'm in the NI legal market and this is hilarious, what a bunch of whinging muppets, I wasn't aware law firms had trade unions. as for the hope that L&B will re-emerge, everyone in Belfast knows who the heavyweights/influencers in L&B were, I don't see them complaining much or have i missed something
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Anonymous | 28-Oct-2010 4:54 pm
class story but sadly largely created by losers. i liked the one about the bmw is that seriously true? i know some of the guys there like their cars, i dont think 50k would buy the bm i saw recently in the car pk though. Lets not talk them into starting up another law firm please there is little enough work
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Anonymous | 28-Oct-2010 5:15 pm
Most of you ciritcs of anonymous are living in a dream world. I am not one of the people being made redundant but I know the score within the firm. To suggest that partners only bring in the work is incorrect and insulting. To suggest that they have 'earned' the right to be exempt is correct until you take into account that it is their mis-management that is causing other peolpe's jobs. So morally exempty? No. Turnover and profit went up. People are only sacked because if thet are not then the partners won't be able to replace last years Mercedes with this years model. And consultations? pah. Lip service you mean. These firms are run like any capatalist country. The rich get richer, the poor get stepped on. And I am NO socialist. Just a relaist.
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Anonymous | 28-Oct-2010 6:00 pm
Here here to the above comment.
Unfortunately it will take many many years for students to understand reality.
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Talk of the City | 28-Oct-2010 6:02 pm
I work in Belfast and at every client meeting I had today, everyone (solictors on the other side and clients) were talking about this article and the responses. There are some great stories on here, some so ridiculous that they must be true! The question on everyone's lips today was "what is going on at McGrigors".
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Anonymous | 28-Oct-2010 6:25 pm
Anonymous @ 5.15 - With spelling and grammer like yours you deserve to be made redundant. In truth, there just isn't enough work to go round all the qualified lawyers working in the UK at the moment. A law firm is like any other company selling a product. If demand for the product falls any sensible business will take steps to cut costs - unforunately for those made redundant the easiest way for mcgrigors to cut costs is to cut staff numbers.
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Anonymous | 28-Oct-2010 7:22 pm
as an older generation in the profession is it just me or is it depressing that a few sore losers are allowed to start rumours and say what they like about frims on line, including L&B and McGrigors, who last time I checked were by a long way the dominant firm in NI, maybe some of you should take a leaf out of their book and sharpen up a bit - as for the rocket scientists in the firm complaining about usual business practices such as cost measures, grow up or go elsewhere although please dont apply to my firm I am now on notice of your opinions
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Anonymous | 29-Oct-2010 12:16 pm
to anonymous at 7:22
A bit harsh I would say.
Reading between the lines people are upset about ruined careers etc
Personally, these days I don't much care as I would rather be in an industry that has potential for growth and better wages etc.
Let's hope the Indians and the Chinese don't ruin your business or you might start complaining yourself. ABS is just round the corner.
Outsourcing and commoditisation of services may just finish you off.
I hope you don't mind a bit of age discrimination?? but that's business right???
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IHateBPP | 29-Oct-2010 1:19 pm
Neither L&B or McGrigors have ever been the dominant forces in NI and if they were it wouldn't be too hard as the vast majority of firms in NI are either conveyancing sausage factories or one man bands.
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