Big UK Firm Axes 10% of Its Partners

Sending shock waves through the United Kingdom legal community, an approximately 800-attorney law firm there has laid off 19 partners—10 percent of its partner roster.

The cuts among the 112 equity and 70 "fixed-share" partners of Addleshaw Goddard are spread throughout the firm's offices and practice areas, reports Legal Week. The layoffs, which were announced within the firm yesterday, reportedly have been under consideration for some time and will require partners to leave the firm later this year.

“This was a very difficult decision, but, in common with many other businesses, we believe it is a necessary response to the economic slowdown and changing requirements of some clients," says managing partner Mark Jones. "Each of the partners affected will be receiving our maximum support. Our business is in a strong position, and well positioned in its markets. By acting now, we believe we will be appropriately resourced to meet our future ambitions and the ongoing needs of our clients.”

Word that partners are being eliminated at Addleshaw Goddard follows multiple news reports within the last week or so of layoffs of attorneys and staff at U.S.-based law firms.

They include: Akin Gump Strauss Hauer & Feld (65 staffers); Ice Miller (2 percent of the Indianapolis-based law firm's staff); Skadden Arps Slate Meagher & Flom (a significant number of staff attorneys); and Squire Sanders & Dempsey (some additional staff, following November 2008 layoffs of 30 lawyers and paralegals), according to ABAJournal.com posts yesterday and today.

Earlier ABAJournal.com coverage:

Big UK Firm Has Partners Hold Funds, Avoids Scary Bank Deposits

Four Top UK Firms See Double Digit Revenue Growth