Wednesday, Dec 02, 2009

Too many lawyers in the City

The Times: Axe may fall on 5,000 more City lawyers in fresh round of job cuts

Royal Bank of Scotland, which handles the corporate bank accounts of 80 of Britain’s top 100 law firms, believes that the slump in demand for legal services will continue through next year, leading to further drastic cutbacks.

Posted by devo @ 10:53 PM (1580 views)
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14 Comments

1. alan said...

Yes, some of them gave notice to their staff today. Temple St solicitors are down scores....

Wednesday, December 2, 2009 11:12PM Report Comment
 

2. Eternal Sceptic said...

I, for one, will lose no sleepover this. They only feed on the misery of others anyway.

Wednesday, December 2, 2009 11:27PM Report Comment
 

3. Mr Plumbase said...

Tragic news!

Wednesday, December 2, 2009 11:58PM Report Comment
 

4. paul said...

Sad for those involved. Much as it pains me to admit it it, while you can question the social value of lawyers, you do have to be very smart to become one.

Thursday, December 3, 2009 08:15AM Report Comment
 

5. crunchy said...

One of the biggest scams in history.

There may be plenty of opportunity to sue the Climate Change Tax fraudsters on behalf of the global population even though some of the incriminating evidence that the population owned via huge funding from taxation up to date has been briskly erased. However, many of the guilty are standing down and running scared. BBC still thinks the Tiger Woods story is more important. Well I never!

Thursday, December 3, 2009 08:25AM Report Comment
 

6. crunchy said...

BTW whilst I am on the subject, where is chemtrialsarenotaconspiracy these days? LOL. The truth always gets you in the end.

Thursday, December 3, 2009 08:54AM Report Comment
 

7. d'oh said...

paul @2: I'd correct that to "you have to be smart to become a good one." I've met some real dross solicitors in my time. Having said that, I must admit that it isn't a job that I would ever chose to do. So painfully boring and repetitive. A lot of legal practice is just drudge work, it requires your mind to be switched on at the same time, and as a junior one has horrendous billing targets.

Thursday, December 3, 2009 09:34AM Report Comment
 

8. mark said...

thats another 5000 people available to work in Tescos

Thursday, December 3, 2009 09:59AM Report Comment
 

9. holding out said...

Always sad to lose your job. Nonetheless I don't imagine many city lawyers shedding many tears for job losses in useful occupations. I shall still sleep sound tonight.

Thursday, December 3, 2009 10:08AM Report Comment
 

10. Millaise said...

d'oh, am I right in thinking that Professional Bodies are little different to Trade Unions in that they attempt to keep wages high, in this case by restricting entry through examinations. I'm sure they would say that they exist for our good, but do we really benefit? There are some really hard-of-thinking lawyers, medics, and accountants around. Given what you say about much of legal work being repetitive drudgery, do they really need years of training? A bit of specific training, aided with computerized expert systems would enable them to perform most tasks. I'm sure Britain would be a much more contented place if wage differentials were reduced. Some people might even be able to get a home of their own.

Thursday, December 3, 2009 11:08AM Report Comment
 

11. mark wadsworth said...

One of Boris Johnson's first policies after being elected Mayor was to authorise the police to start shooting lawyers at random, so there's no need to be surprised at any of this.

Thursday, December 3, 2009 11:26AM Report Comment
 

12. This comment has been removed as it was found to be in breach of our Blog Policies.

 

13. mountain goat said...

I would have thought that lawyers that specialized in bankruptcy would have seen more work in the past 12 months.

Thursday, December 3, 2009 01:09PM Report Comment
 

14. timmy t said...

"Many firms failed to react quickly enough to the downturn, perhaps underestimating its length and severity. Another wave of job losses is now likely as those firms adjust their headcount in line with lower work levels, RBS said."
Whereas the firms that created the downturn didn't have to react, safe in the knowledge that they would be bailed out. I hope the axe falls on the whole f***ing city. We'd be better off without them all. I'd rather live in a tent and grow my own food than listen to this gobshyte every day.

Thursday, December 3, 2009 04:32PM Report Comment
 

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