Pinsents rolls out cost-cutting plan as firm aims to stave off job cuts
Pinsent Masons has announced a package of cost-cutting measures in an effort to avert widespread job cuts at the firm. Pinsents is rolling out a number of measures, including sabbaticals and part-time working, which will be encouraged across the firm following a successful pilot project. The UK top 20 firm confirmed that a number of jobs - including fee earners and support staff - will come under threat, but stressed these would be kept at a minimum.
June 11, 2009 at 07:13 AM
2 minute read
Pinsent Masons has announced a package of cost-cutting measures in an effort to avert widespread job cuts at the firm.
Pinsents is rolling out a number of measures, including sabbaticals and part-time working, which will be encouraged across the firm following a successful pilot project.
The UK top 20 firm confirmed that a number of jobs – including fee earners and support staff – will come under threat, but stressed these would be kept at a minimum.
Pinsents is also set to increase the number of lawyers on secondment from 30 to 50, with a number of those transferring to Salans offices after the recent confirmation of the strategic alliance between the two firms.
In addition, 25% of trainees from the firm's September intake have been deferred, while a pay freeze has been introduced across the board.
The firm is also moving a number of lawyers around the business, with corporate partner Alan Wood relocating to Dubai to grow the corporate practice in the region, while projects partner Ian Laing will transfer to the Asia-Pacific region.
Pinsents managing partner, David Ryan commented: "We wrote to staff yesterday about our plan for the recession which we have been working on for about four months. We will try everything we can to keep job losses at a minimum."
In addition, the firm has announced its financial results, posting a 1% increase in revenue.
The national firm saw turnover reach £215m for 2008-09, compared to £213m for the previous financial year.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View AllBird & Bird Steers Katjes in Bittersweet Dispute with Lindt & Nestlé Over Vegan Chocolate Patent
Hong Kong Bourse Seeks Feedback on IPO Price Discovery, Takes Steps to Boost Capital Markets Activity
Big Four Japanese Firm Mori Hamada Launches Foreign Joint Law Enterprise, Joins Rebrand Drive
US Wins Trade Dispute with Mexico Over Genetically Modified Corn
Trending Stories
- 1Decision of the Day: Administrative Court Finds Prevailing Wage Law Applies to Workers Who Cleaned NYC Subways During Pandemic
- 2Trailblazing Broward Judge Retires; Legacy Includes Bush v. Gore
- 3Federal Judge Named in Lawsuit Over Underage Drinking Party at His California Home
- 4'Almost an Arms Race': California Law Firms Scooped Up Lateral Talent by the Handful in 2024
- 5Pittsburgh Judge Rules Loan Company's Online Arbitration Agreement Unenforceable
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250