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)
annon | 29-Oct-2010 2:33 pm
IHateBPP at 1.19
L&B probably were fairly dominant 20 years ago when they were all walking round with their quils and smoking jackets with no real competition. They lost that position when the competition increased. I agree that McGrigors were never dominant in NI. They never will be the way things are going for them. I wonder how the L&B partners now feel being part of a ruthless business which requires them to win new work and compete in the market. Welcome to the real world!
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Who cares... | 29-Oct-2010 2:50 pm
...about some little scottish law firm trying play with the big boys and failing.
This article is funny though.....
http://www.scottishlegaljobs.com/news/richard-masters-is-looking-to-take-mcgrigors-to-the-top-of-the-london-tree-.html
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Anonymous | 29-Oct-2010 11:40 pm
"He adds that McGrigors is well placed to avoid any further redundancies in the months ahead, as it prepares to move from its long-standing home in Glasgow's Wellington Street to much-sought-after real estate space at 141 Bothwell Street."
!!!
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Anonymous | 1-Nov-2010 3:11 pm
McGrigors are in this position because they have continued to spend money like water despite a large overdraft. One suspects the bank will be putting pressure on them to reduce it.
To the people posting a slap on the wrists on here directed at the people complaining about this, bear in mind McGrigors, in Scotland anyway, have a traditionally v loyal workforce and lower than average staff turnover, but those same staff are now being made redundant to pay for the spending and to maintain PEP. You should have a little heart if they want to moan on here a bit and vent their frustration in a way less likely to cost them their job than any other.
I am ex-McGs, long time there and senior role and I agree with the comment about things changing when they went in with Klegal, and not very much for the better. The current managing partner was very much involved in and in favour of that deal and has continued to view expansion as the only way forward for McGrigors. Until a fortnight ago.
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Just Another Sweat Shop | 1-Nov-2010 7:09 pm
Just where is the legal profession going. Another firm that has expanded on the back of the sweat of good assistant solicitors on the basis ofjam tomorrow. I left the sweat shop mentality years ago and have never regretted it.
M is not daft they are well aware ,amongst others, that the promise of jam tomorrow works for technically good lawyers but as green as grass.
M will not be the last and on all accounts are no where as bad as some of the big Leeds sweat shops.
The reality is Law is the modern day sweat shop.and nothing will change unless Lawyers start walking
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Anonymous | 2-Nov-2010 4:10 pm
@Anonymous | 28-Oct-2010 6:25 pm
Are you really in a position to comment on someone else's grammar when you cannot even spell the word correctly yourself?
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pointless..... | 3-Nov-2010 7:48 pm
.... little scottish firm whose opinions are not backed up by their ability. I feel sorry for any good young lawyers in the firm who are being promised the jam tomorrow but there is no jam today and not likely to be any jam for a while. They have been building themselves up as the next big national law firm in recent years which is why so many people are looking at the apparent disarray the firm is now in with a smug smile on their face....
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student | 4-Nov-2010 4:24 pm
No wonder my Edinburgh Uni law student pals who've applied for a 2012 traineeship at McGrigs haven't heard back.... think I'll be warning them not to expect a call anytime soon!
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Anonymous | 5-Nov-2010 4:43 pm
Probably best that students leave the commenting to people who are not just feeding on whatever rumour somebody in their law class has decided to make up on that day. Considering the firm was one of the few not to defer their trainees, even during the big hit in 2008, there is absolutely no basis to suggest that the trainee intake will be affected this year.
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Anonymous | 12-Nov-2010 1:56 am
No, trainee intake will not be affected this year.
Trainees much needed after the recent redundancies to help with basic tasks of sorting out post and archiving. Whilst the partners are swanning off on their away day, patting themselves on the back for saving their own skins, the firm 's transformation into a complete farce is almost complete. Yes, make the post guy redundant - its great getting our important letters and deliveries at 1pm instead of first thing in the morning. Archives department? Completely unmanned. Well done, lets hope there is no need to recover any client files currently sitting in a big container no one has a clue how to get to. McGrigors - we salute you
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