Categories:Scotland,UK

Maclays confirms 28 redundancies

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  • Truly sad state of affairs and such a shame for the people involved. Ultimately we all knew this was coming as MMS having been falling apart for some time. A lot of real estate and corporate people are on the market at the moment.

    Much like D&W a merger/bailout from down south is all that will salvage this mess.

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  • Such a shame that their merger talks with Dickinson Dees and then Bond Pearce floundered at the last fence.

    MMSDDBP would have been the best merger name on the market.

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  • It's true that the redundancies are sad, but this doesn't mean MMS is 'falling apart' no more than the Magic Circle are falling apart after dumping many lawyers and staff over the last few years.
    Never ceases to amaze me how much vitriol is expressed in the comments sections of the legal media. There is so much anger in the legal sector.

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  • In response to #3 above, 28 people is a significant proportion of the overall staff headcount (as much as 10% after earlier cuts?) so its definitely newsworthy. If the Magic Circle were reducing overall headcount by up to 10% we'd be hearing about it, and would expect to hear about.

    For a Scottish firm to be making this number of cuts (on top of earlier cuts), it suggests all is not rosy for the former Big 4 - D&W, McGrigors (now part of Pinsents), MMS and S+W (who?). Brodies and Burness Paull have stolen a march on the market by not being heavily reliant on the banks for deal flow, and also concentrating on their home market rather than chasing higher London charge out rates.

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  • Anon 11.02am

    While it is undeniably true that 28 redundancies, of itself, does not constitute MMS "falling apart", it is the latest of a series of unfortunate events which, taken together, may be indicative of such. This is a Firm with an inexperienced leadership, which has at least two failed mergers under its belt (London and Aberdeen), whose turnover and profitability appears to be in freefall (despite the said CEO stating in 2012 that its turnover of £46 Million for the preceding year represented "the bottom of the curve") and which has seen most of its best lawyers abandon ship. It is no secret that MMS has been seeking a merger partner for some years. The way things are going it is more likely to be a fire-sale.

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  • Anon | 10-Sep-2013 11:02 am

    I don't think either of the earlier comments to which you refer is at all vitriolic; they express an opinion, but are quite measured.

    I think 'There is so much anger in the legal sector' is rather dramatic, don't you? If there is any anger, I doubt that it is any greater than that which might be encountered across other professions and in some areas of the public sector.

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  • More evidence of the structural change taking place at law firms to address the new marketplace. As yesterdays features in The Lawyer confirm, the fundamental issue is that the traditional law firm structure is not addressing the needs of the modern marketplace and its GCs.
    A simple merger strategy will not address this - the same structural problems remain, just larger.

    David Ellis
    OMC Partners

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  • We shall grow by reducing our headcount.

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  • It should not be a surprise that firms losing profitability will shed support staff and under-deployed fee earners. In the real world, it tends to only be the most senior tiers of management who employ people to type emails and documents, field phone calls, manage diaries etc. It's understandable that law firms might expect their staff to do more of this themselves.

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  • So anon 4.51, you feel it is more efficient to have staff undertake roles that can be outsourced to save time. Personally I think the very opposite.

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