This year’s May Day will mark the launch of various mergers, notably the £277m tie-up of CMS Cameron McKenna and Dundas & Wilson. But the traditional spring holiday will bring bad news to some, with the two firms together axing 60 support roles ahead of their merger deadline.
The cuts include 40 support roles at Dundas and 20 at CMS, including from its third-party suppliers Integreon, Initial and Xerox. It is the first formal redundancy consultation launched after partners at both firms agreed to the merger, with the practices being the latest of several to cut their support staff headcount in recent months.
The list of redundancies doesn’t make for light springtime reading. Support cuts in the last year have come from firms such as Wragge & Co, which is formally merging with Lawrence Graham tomorrow, and Ashurst, which dropped over 120 jobs from the City after opening of a low-cost office in Glasgow. Support staff are the most likely to be impacted by Gordon Dadds’ acquisition of Davenport Lyons, which went into administration on Friday (25 April).
Still, today is year-end for many firms and with the UK economy growing 0.8 per cent for the fifth quarter in a row and senior partners predicting revenue growth for 2013/14, there may be some glimmers of light in the gloom.
Also on The Lawyer:
- Lawrence Graham (LG) will make up five partners to coincide with its merger with Wragge & Co on 1 May
- Eversheds has made up 12 lawyers in the UK and nine internationally, adding a total of 21 to its partnership with effect from tomorrow
- Tesco has dropped Ashurst as one of its preferred real estate firms, instead reinforcing its relationship with longstanding adviser Berwin Leighton Paisner