As today's leader reveals, the gap between the UK 200's biggest and smallest firms is widening - not least because magic circle hourly rates defy the downturn. Our Legal Job Watch page keeps an eye on the redundancies as they happen - 736 so far - while the latest blog post explains just what your rights are if you're number 737. Plus: US-UK merger rumours abound, why small may be beautiful but is not enough for Freshfields to crack the US; how to turn the downturn to your advantage; the UK 200: West End firms, payback time at Hammonds, new special reports on partnerships and Italy and fresh from his recent gunpoint showdown with the cops, Brit hip hop lawyer Philip Trott.

Wall St woes: Mail prowess
Over lunch yesterday at Bingham McCutchen’s midtown Manhattan office, the firm’s co-head of its financial restructuring group seemed proud - to say the least - of his firm’s efforts during the current meltdown.Click here

Know your rights

If you have been given the unfortunate news that you are “at risk” of redundancy what are your entitlements? And what should you do if you believe your rights have been breached? Here's a quick guide. Click here for more.

Crunch widens law firm gap
What an astonishing month it’s been. For most law firms these convulsions of capitalism have resulted in redundancy programmes, questions over the safety of money in client accounts, the realisation that the January partnership tax bill is alarmingly close, and, as we report this week, worries over property exposure – one of the major costs for any law firm. Click here

LG in redundancy talks with 21 staff

Ward Hadaway to cut 30 jobs, delay training contracts

Halliwells to cut up to 40 property staff