LawFuel.com – Latest Legal News – No one is safe it appears, as lawyers at Pinsent Masons discovered yesterday.
The firm’s managing partner David Ryan used the dreaded ‘R’ word for the
first time, after avoiding making any formal job cuts up to now.
After weekly, sometimes even daily, announcements about lay offs over the
past six months it has been a case of when not if for those firms still resisting the recession.
But it appears there is still plenty of fight left on the shop floor. Yesterday’s story has provoked a backlash the like of which we haven’t seen since the height of the redundancy season, with comments on TheLawyer.com having little sympathy for the firm’s economic woes.
Despite announcing a drop in revenue of one per cent, one reader had this
appeal for Pinsents equity partners: “If you can’t get the work in through the door – fall on your own swords – it is you who should be blamed not the employees.” Ouch.
The firm has yet to release its profitability figures, but staff will be keeping a close eye on the results to see where the sacrifice is really being made.
As one reader puts it: “The partners take a 5% pay cut and everyone keeps
their jobs. Simple.”
If only it was.