Addleshaws plans 40 job cuts
LAW firm Addleshaw Goddard is to begin a consultation process with staff which could see up to 40 employees made redundant.
The firm, which has offices in Manchester and Leeds, said the redundancy programme in its business services teams was being undertaken so that “investment in those areas is more closely aligned with current priorities and future ambitions”.
“We anticipate this will result in a reduction of up to 40 people through a redundancy programme,” Addleshaw Goddard said in a statement. “A 30-day consultation process with all of those at risk has begun. There is no corresponding fee earner programme.”
The firm, which wants to cut costs, has also announced plans for “a new, simpler leadership, governance and management structure”. Its governance board and executive leadership team are to merge to create a smaller board.
“Reducing the number of partners in management roles will cut out unnecessary duplication and bureaucracy, streamline decision making and ensure greater visibility of partners with clients, as well as in our local markets and chosen sectors,” the statement said.
Managing partner Paul Devitt said: “We need to make changes and improvements to take best advantage of the new environment we now operate in – one of opportunity and increased busyness and yet one where there is a need for greater efficiency and to deliver differently and better for our clients.
“Even allowing for current economic and market pressures, the returns we generated from the business last year were disappointing and we have a very clear strategy and vision to drive better performance this year and in future years. We need to reduce our costs, but the focus is not simply about cost cutting. Our business remains in a strong position and we continue to plan and invest appropriately for the future.
“We are confident that the full range of measures being proposed, and decisions taken around the tactics, focus and implementation of our strategy will enhance the long-term strength and competitiveness of our business.”
Addleshaw Goddard is also consulting with the 114 current members of its defined benefit pension scheme about closing them to future accruals later this year.
Other moves by the firm include the transfer of most non-partner services and costs out of Addleshaw Goddard into a newly created service company, wholly owned by the LLP, for tax reasons, and opening offices in Singapore and Dubai to focus on international arbitration.
