Manches has confirmed that it has a redundancy process underway.
It's not clear when the consultation began but a spokesman for the firm confirmed that: "we are always looking at ways to make the firm more efficient" and as a result "some very limited redundancies" were being made. Manches declined to comment on how many staff at the firm's three offices - in London, Reading and Oxford - would be affected.
What is clear is that Manches has had a crap time lately. Last year the firm lost a clutch of high profile partners, including litigation supremo Clive Zietman (much-mourned for his role in setting the annual Christmas quiz). And the partner hired to fill Zietman's gap quit after only a year. Then the firm took out a £7m overdraft, representing 22% of its total annual takeover. And to cap it all, one of its real estate associates was charged with pilfering thousands of pounds of client monies.
Manches insists that the firm is "in preparation for further growth" and has recently hired two new partners in London and one in Reading. But still, a redundancy programme won't do much to allay concerns that the firm has some significant problems to resolve.
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It's not clear when the consultation began but a spokesman for the firm confirmed that: "we are always looking at ways to make the firm more efficient" and as a result "some very limited redundancies" were being made. Manches declined to comment on how many staff at the firm's three offices - in London, Reading and Oxford - would be affected.
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A Manches associate yesterday |
What is clear is that Manches has had a crap time lately. Last year the firm lost a clutch of high profile partners, including litigation supremo Clive Zietman (much-mourned for his role in setting the annual Christmas quiz). And the partner hired to fill Zietman's gap quit after only a year. Then the firm took out a £7m overdraft, representing 22% of its total annual takeover. And to cap it all, one of its real estate associates was charged with pilfering thousands of pounds of client monies.
Manches insists that the firm is "in preparation for further growth" and has recently hired two new partners in London and one in Reading. But still, a redundancy programme won't do much to allay concerns that the firm has some significant problems to resolve.