Two rounds of redundancies, one miserly promotions round and the most garish reception in the City.
Can you guess which firm we are talking about?
Yes, it’s Baker & McKenzie, whose infamous rainbow-themed front entrance offers a stark contrast to the rather dreary set of financial results it announced today (see story).
The London office has been particularly hard hit, with UK PEP tumbling far faster than the average across the firm’s vast international network. With corporate and banking as its biggest practices, the City branch was always going to be vulnerable to recession.
Two year ago, when interviewed by The Lawyer, London managing partner Gary Senior boasted that 94 per cent of his staff were ‘proud’ to be associated with Baker & McKenzie (see story).
Some 90 job cuts later, and partnership prospects looking grim (just one associate was promoted last month, down from six last year) we can’t help wondering what that figure is now.
Still, at least they can take comfort in the riot of colour that greets them as they walk into work every morning.