BLP to cut 58 legal staff in massive salary reduction drive

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  • I also got out a couple of years ago and it was great to escape. Poor management with protection for the old tired "in" partners who happily extract their cash while doing very little revenue generation. They have been in love with hiring shiny people who are only rainmakers in their own heads and they have traditionally done very little DD on them. Those guarantees have diluted the cash perilously. Many of the partners have limited ability and polish. Really a small firm still - but one that has done a good PR job in selling them as something they are not.

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  • During the boom years when 95 percent of the partners that run city firms got made up (when you had to be little more than a lucky monkey riding the crest of an unsustainable wave) you didn't have to have any management or business skills whatsoever. It's hardly surprising therefore that the people running these "businesses" aren't displayaing any such aptitude and are now largely too old to learn any. At some point in time these old men will have to start eating one another, and that is the part that I really look forward to seeing.

    Culling swathes of associates depletes your ability to generate fees as it is the fee earners that actually "do" or should be doing the majority of the work. Ratios at some firms are getting ridiculous, it used to be 1:4 or 1:5 and now it is often down to 1:2 with the partners doing more work themselves. These either have to (a) do all of the work themselves (ending up with a 1:1 ratio) or (b) start eating each other, to make the next appreciable step in their financial "evolution", and it will be funny as hell to witness when they wake up to that. A lot of these "top" firms may not be around for as long as they think....

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  • The senior management cannot manage at all. Far too many of the Partners are seriously under performing but yet they turn a blind eye and still expect Associates to work themselves into the ground for no pay rise or bonus. Last year they rolled out a pathetic bonus scheme only to move the goal posts and not pay out. Now redundancies! Others firms must be waiting to snap up the talented lawyers who are bound to leave on mass.

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  • I have no connection to BLP, but I have to say that they are going to have a hell of a time recruiting anyone for their London office who reads these comments. Just brutal!

    In a strange way it is comforting that such a firm still exists, doesn't set the bar too high for the rest of us.

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  • I'd just like to thank BLP's HR team for not offering me a training contract. Oh, and a big belated shout out to Dewey Leboeuf as well...

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  • The thing is, as some of you lot have already touched upon, BLP has been desperate to join the hallowed inner sanctum that is magic circle.
    They've hired some so called "heavy hittters" over the past 5-6 years but in reality a good few of these only carry magic circle names as weight. They're actually not that good. This is specifically directed at RE and Corp. Tax areas, which BLP are obese in. It's like a battleship sinking under the weight of its own guns - trouble is, the guns never worked.
    So what did they inherit? Ego. And ego in abundance. Ex. 'circle partners who have a point to prove. Bit tragic really as, ultimately, it's the good (and there is some) who suffer at BLP.
    Sift out the dead wood (some SEP's in RE would be a good start - there's a couple of women I can think of (no, this is not a sexist remark, anyone who knows will know!) and for christ's sake ditch this stupid obsession with Susskind!!!! I am sorry, to take the beliefs and ideals of someone whom has NEVER practiced and worked commercially is, frankly, bonkers. There's a midget "Canary Dwarf" in RE whom seems to have the most terrific erection for this man. Watch out and be warned!!

    Seriously though, BLP was once a great place to work and a greta firm to work for - sadly that was about 5-6 years' ago....

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  • not a nice place to work, and too many underperforming "heavy hitters". This year will be extremely bad for BLP.

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  • BLP have already shed, earlier this year, the 15 or so internal Lawyers on Demand working within the firm alongside the Associates who weren't employees and could be got rid of without having to pay redundancy money or hold consultation periods or make any announcements -as these lawyers were self employed.

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  • redundencies, outsourcing , no pay rises no bonuses moral at a all time low, life at BLP
    But on the upside there ARE JOBS A PLENTY in HR. When handing in notice Directors response was "dont blame you, i will get my sec to type resignation letter for you" .Never realised how bad it was until i left.

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