We reported yesterday the revelation that Mallesons has been forced, by dint of the GFC, to shed 5% of staff. Mallesons Chief Executive Clairvoyant Partner Robert Milliner, dismissed the heartwarming musings of the RBA governor to declare, as a matter of fact, that the market will remain subdued into the future.
In response to these revelations, we received the following from an anonymous spy last night:
Terms [of the package] are nowhere near as generous as those supposedly offered by Allens. 3 weeks pay per year of service + one bonus month + notice period + leave entitlements up to max of 52 weeks. Rumour is that Partners were pleasantly surprised by the take up rates at PWC and Allens so decided to give this a go. They are supposedly targeting primarily M&A B&F and Construction (quiet areas). Have not ruled out forced redundancies if the take up is insufficient – or even otherwise.
We express no view as to the validity of these comments except to say that, if true, it is clear that Mallesons is very serious about reducing numbers and may do so forcibly if required.
No doubt workers situated near Milliner’s Gandalf’s office have now turned up the volume on the computer speakers and are singing along loudly with Elton John … hold me closer tiny dancer necro-mancer!
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Better than DLA Phillips Fox. They pay less than 2 weeks per year of service plus notice.
Speaking as someone on the inside of the legal juggernaut that is MSJ, could we please have more (not less) ridicule of Gandalf? he’s really giving us the shits at the moment.