Allen & Overy is appointing 15 employee representatives to consult on the sweeping redundancy that is set to claim more than 200 UK jobs.
Each representative will consult with staff and communicate on their behalf for each practice area and major business unit. The practice groups that will each have a representative are: banking; corporate; international capital markets; litigation; tax and real estate; and private client and employee benefits.
Business services; business development and communications; central and risk management; know-how; library, central education and training; finance; human resources; and IT will each have one representative appointed to oversee the consultation, while legal PAs will have two.
A&O is required by UK law to appoint employee representatives to communicate with staff during the redundancy consultation.
The firm will cut support staff and fee earner numbers by 9%, with a further 47 partners set to depart the firm. Around 200 jobs are expected to go in the UK, roughly half of the job cuts globally.
Five partners in A&O’s London leveraged finance team were notified that they would be affected by the partnership restructuring.
Founded in 1930, Allen & Overy has approximately 5,500 staff and 31 offices worldwide. It is part of the Magic Circle of London-based law firms.
Posted by Erik Even
on February 28, 2009. Filed under Home,Law Firm News,Layoffs.
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