Report: Secret plans in place to ax or demote 20 to 50 of 189 partners at Ashurst Australia
Posted Jan 31, 2013 10:39 pm CST
Relying on unidentified sources, an Australian business publication says the Australian arm of Ashurst is secretly planning to cull between 20 and 50 of its 189 partners in order to meet financial projections and complete its planned merger with the United Kingdom-based law firm of the same name.
Doing business as Blake Dawson until last year, the major Australian firm agreed in 2011 to join forces with Ashurst in a two-step process.
Culled partners would be either demoted to non-equity status or let go in order to boost Ashurst Australia’s financial projections prior to the final step of the merger, the Australian Financial Reviewreports.
John Carrington, managing partner for Ashurst Australia, declined to discuss the matter as he traveled back from Dubai this week with two other law firm leaders, the article says.