Today’s news that the firm is following up last year’s seismic restructuring exercise (redundancies to you and me) with more plans to cut down on a bloated management class seem like they should have some partners quaking in their loafers (see story).
But word is that Childs – who is understood to have put the slimming of CC’s opaque management structure at the centre of his re-election campaign – has the partnership square behind him.
So why such willingness to load the gun of their would-be executioner?
Cast your mind back to autumn 2007 and the start of what was once endearingly known as the credit crunch. Apparently a certain business-savvy managing partner wanted to prune his partnership before the plane really crashed into the mountain.
Alas, his plans were kyboshed, only for the firm to see much, much worse to come a year later.
Looks like now when he says things need to be done people take a bit more notice.
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