Mallesons Stephen Jaques is reported to have yesterday announced a voluntary redundancy scheme open to all employees. The firm apparently hopes to shed an incredible 5% of staff with the scheme.
More interesting however, is the apparent ascension of Mallesons Chief Executive Partner Robert Milliner to the throne of Australia’s leading economist. In commenting on the announced scheme, Milliner stated matter-of-factly:
The work today is not evenly spread over all practice areas and centres and the economic outlook, despite contradictory reports, is set to remain subdued with flatter conditions in the legal market.
Those ‘contradictory reports’ are presumably the comments yesterday of Reserve Bank of Australia Governor Glenn Stevens, whose speech was regarded as being so positive, that commentators considered it the cause of a major lift in domestic markets.
But forget the RBA, Robert Milliner can see the future! A modern-day Gandalf-the-Grey, if you will.
Note to Robert: do not open a wizardry practice in Africa.
Will the Firm Spy receive rumours of involuntariness of in the Mallesons ‘voluntary’ redundancy scheme? Send the Firm Spy your news and views!
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