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1 in 5 London jobs cut from legal firm
04 August, 2008Cadwalder Wickersham & Taft (CW&T) has announced further redundancies to its London firm, bringing the company-wide losses to a total of 96 jobs.
Cadwalder Wickersham & Taft (CW&T) has announced further redundancies to its London firm, bringing the company-wide losses to a total of 96 jobs.
Axing 11 jobs from London - 20 per cent of the total workforce - CW&T have also had to take the drastic cost-cutting measure of cancelling this year's summer party, signalling more trouble ahead.
The redundancies come as the legal industry suffers as a result of the credit crunch, which is forcing corporations and small businesses alike to make cost cutting measures.
There are still some areas of the legal industry that is growing as a result of, rather than despite, the credit crunch.
Demand for insolvency lawyers has been rising steadily, and solicitors working with companies entering administration have been inundated with work.
For those looking for work however, joining a legalrecruitment agency will be the most reliable way of finding a secure job.
CW&T has no managementpartner in London as the organisation is run in a top-down fashion from New York, where over 60 jobs are also being cut.
All jobs cut from CW&T are being cut from their capital markets and globalfinance groups, it has been reported.
The long, drawn-out sale of British Energy (BE) to EDF Energy has come to an end after the French energy firm bought BE for £12.5 billion, it has been reported.
Government hopes to have an EDF Energy-British Energy (BE) tie up within two weeks have been dubbed "optimistic" by the British nuclear company, according to a recent report.
Gordon Brown is facing the prospect of a major defeat over the government's reluctance to impose a windfall tax on energy companies, it has been reported.
The City of London has launched a campaign against Gordon Brown in order to convince him that introducing a windfall tax on energy companies should be avoided.
TaylorWimpey has reported phenomenally poor first half results for the year so far, recording a loss of £1.5 billion, it has been announced.