Solicitors A&L Goodbody seeking 45 voluntary redundancies
A TOTAL of 45 jobs are to be eliminated at solicitors AL Goodbody, one of the biggest legal firms in the State. The firm’s 555 remaining staff are likely to have their pay cut by 10 per cent later in the year.
The company, whose staff are frequently involved in major corporate transactions and big legal cases before the courts, told staff yesterday that it wanted 20 voluntary redundancies from its team of 360 fee-earning solicitors.
These redundancies are being sought from all ranks in the practice, it is understood.
A further 25 voluntary redundancies are being sought from the firm’s support staff – those who do not earn fees for the business.
All employees were also warned of the “probability” of a 10 per cent cut in their salaries, to be implemented at the beginning of May.
“We are taking this action in order to balance the resources of the firm with current and anticipated demand for our services,” said a spokesman for AL Goodbody.
“We believe that our actions are a prudent, balanced and measured response to an adverse market and are strategically necessary to be in a stronger position when the recovery occurs.”
Amid dire conditions in the property market, long a big earner for the legal sector and a source of much of its recent growth, certain other legal firms have quietly taken action to reduce their staff in recent months.
In some cases, trainees have not been offered jobs as solicitors when they qualify.
It is understood, however, that AL Goodbody offered solicitors’ jobs to 16 of the 22 trainees who qualified last December.
The measures taken yesterday have no bearing on the position of its current group of trainees or for its plans to recruit a further group next October, it is understood.