Pinsent cost cutting could mean job losses in Birmingham
Jun 17 2009 by Tom Scotney, Birmingham Post
Law firm Pinsent Masons is launching a redundancy consultation in a move expected to affect the Birmingham office on Colmore Square.
Turnover at the international firm rose by just one per cent in the last financial year and the firm said redundancies were inevitable, although it would be doing what it could to keep the numbers as low as possible.
A spokesman for the firm said: “We continue, as we have done over the past 15 months, to do all we can to avoid large-scale job losses. This includes introducing flexible-working arrangements across the firm in order to reduce payroll costs and avoid the need to reduce positions.
“This is happening across the firm, including in our Birmingham office. We are not able to give any estimates regarding redundancy numbers in Birmingham but can confirm that they will be minimal.”
Managing partner David Ryan wrote to staff last week outlining the firm’s plans to cut costs. These include reduced working hours, sabbaticals and moving staff between offices, as well as the job losses.
The number of people leaving will be decided after the six-week consultation period is up.
Mr Ryan said the firm was relatively pleased with the results, blaming a tough last quarter to the financial year. He also said the figures did not take into account the investment put into the growing office in Dubai, which is expected to be a future money-spinner.
Corporate partner Alan Wood, who is based in the Birmingham office at the Wesleyan Building, will be leading a new four-man corporate team out in the United Arab Emirates, which the firm hopes to build on as the Gulf economy starts to recover from the downturn.
Meanwhile, the firm announced its latest round of legal director and associate promotions.
The firm promoted 12 people to the role of legal director across corporate, dispute resolution & litigation, tax, pensions, outsourcing technology & commercial, property and United Kingdom construction & engineering. Those promoted are based across the UK and Asia. The role of legal director was introduced as an alternative to partnership at the firm in 2008.
The firm has also promoted 24 people to senior associate and 14 to associate ,across all practice groups of the firm.
There were 15 promotions in the Birmingham office. Mark Surguy in dispute resolution and litigation, Jennie Newton and William Franklin in the tax department and Martin Damms in property have been promoted to legal director.
James Bryan and Nicola Bradfield have been promoted to senior associate in the dispute resolution and litigation team, with Veronica McMahon in tax, Nia Lloyd and Neil Black in employment, Nick Stones and Gavin Paul in pensions and Didar Dhillon in projects and international construction. Katy Wanless has been promoted to associate in property, with Matthew Heywood and David Turner in UK construction and engineering.
Greg Lowson, head of office in Birmingham said: “At Pinsent Masons, we are keen to recognise and reward talent. These individuals have demonstrated outstanding talent, enthusiasm and a strong track record, given the current state of the economy.”
The firm also has a strategic alliance with Salans which it says will strengthen both firms’ reach and capacity to service large cross-border projects across a range of industries and markets in key business centres across Europe, the Gulf region and the Far East.
Pinsent Masons and Salans have started to collaborate on bids for new multi-jurisdictional work from a range of organisations.
In addition to both firms’ existing associations in key markets including the United States, the alliance gives each firm’s clients access to an extensive international capability.
