The Firm Spy revealed way back  in April that national law firm Holding Redlich had made redundancies. However, it appears we gravely underestimated the number of sackings which took place.

In an article appearing in the Financial Review, it is highlighted that the firm has lost nine staff, including seven property lawyers. Managing partner Chris Lovell is quoted as saying:

the market is very much a day-to-day proposition. One day it’s looking terrific and the next it’s looking pretty ordinary.

It appears that Holding Redlich has taken a ‘sack-now-ask-questions-later’ approach to the GFC, though as Lovell notes:

[the firm] has benefited from a very pronounced trickle down as big clients, now reluctant to pay top-tier prices, move to smaller firms. This should leave the firm in a much stronger position… those who take advantage of … opportunities … come out best at the end. That’s what we are entirely focused on… It’s a bit painful on the way through…

Growing pains or sacking opportunism?  You decide.  Send the Firm Spy your news and views!

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