JD Journal » Addleshaw Goddard

Addleshaw Goddard Offers Reduced Hours, Sabbaticals

Erik Even — Mon, 13 Jul 2009 16:55:33 +0000

Addleshaw Goddard, which laid off 19 partners in February and 85 staff in May, has approved new measures to save money on compensation.

Some attorneys will work a four-day week and earn 85% of their normal pay.

The firm is also offering sabbaticals, or extended time off at 30% salary. Salaries have been frozen until 2010.

Addleshaw Goddard has also announced is is keeping on only 75% of its incoming associates, or 33 new lawyers.

Addleshaw Goddard LLP is a UK law firm, with almost 750 lawyers and 1,350 staff, based in Leeds, London and Manchester. It was formed in 2003 by the merger of Addleshaw Booth & Co with Theodore Goddard.

Addleshaw Goddard Reports 30% Drop in PPP

Erik Even — Fri, 03 Jul 2009 16:38:20 +0000

Addleshaw Goddard, which cut 19 partners in February and 85 staff in March, saw a 30.8% plummet in partner profits in fiscal 2008; and turnover fell 11.4% to £173.3 million ($285.5 million).

Profits per equity partner nosedived from £586,000 ($958,000) to £405,000 ($663,000).

The firm is considering reduced work hours and unpaid sabbaticals. There is already a salary freeze in effect.

According to The Lawyer, a UK legal newspaper, Addleshaw Goddard was ranked 15th largest law firm in the UK by turnover in 2006.

Addleshaw Lays Off 85 Staff

Erik Even — Mon, 18 May 2009 19:42:27 +0000

Addleshaw Goddard, one of Britain’s largest firms, which announced in February it would cut 19 partners, has now announced the redundancies of 85 staff positions.

The layoffs target the firm’s Manchester office, and affect the business services division, including business development, human resources, information technology, finance, and secretarial.

No lawyers are being let go at this time, but the firm is instituting a salary freeze, and cutting pay for trainees. Addleshaw is also considering cutting hours.

According to The Lawyer, a UK legal newspaper, Addleshaw Goddard was ranked 15th largest law firm in the UK by turnover in 2006.

Linklaters to Cull 70 from Partnership, Decimate Associates

Erik Even — Fri, 23 Jan 2009 17:13:14 +0000

London’s Linklaters, the world’s second largest law firm by revenue, will eliminate 70 partners and 10% of associates.

The initiative is said to be called “Linklaters New World.” We’ll let that sink in for a moment.

There will also be redundancies among support staff. The Magic Circle firm’s offices in Western Europe are said to be most vulnerable to cuts, which are expected to occur all at once in mid-February.

Last year Linklaters slashed its client base from 11,000 to 6,000, with the expectation that the list will number 3,000 by the time the scheme ends. The initiative saw the firm get rid of small clients that could conflict it out of acting for larger players.

Addleshaw Goddard, Britain’s fifteenth largest firm, is poised to lose 19 partners; while Ashurst, its City rival, has 223 partners as risk.

Founded in 1838 as Dods & Linklater, Linklaters has around 540 partners and 2,400 qualified lawyers, more than 60% of whom are based outside the UK.

Addleshaw Goddard to Lay Off 19 Partners

Erik Even — Thu, 22 Jan 2009 00:35:57 +0000

Addleshaw Goddard, Britain’s fifteenth largest firm, is poised to lose 19 partners because of falling demand for legal services.

More than a tenth of the firm’s 182 partners will be forced to leave in the next few months.

Ashurst, its City rival, one of the top private equity advisers, is also understood to be in the process of down-sizing its partnership, with as many as ten of its 223 partners at risk

UK law firms are targeting underperforming partners in an effort to cut costs, forcing them to accept a reduced equity share or simply asking them to leave. As many as 15% of the 12,000 partners at the top firms – about 2,000 senior lawyers – could lose their jobs this year.

The cuts will affect both equity and so-called fixed-share, or junior, partners across all main practice areas in the offices of Addleshaw Goddard at London, Leeds and Manchester.