Redundancy consultation underway, the firm has confirmed
Ince Gordon Dadds may be cutting up to 45 jobs.
A spokesperson for the newly merged firm confirmed to the Law Society Gazette that redundancy consultations are slated to begin this week at the listed firm.
“Naturally as with all mergers there are synergies that can be found. A redundancy consultation process will begin next week; however, we are committed to exploring ways to minimise the number of employees affected and no final decision has been made as of yet,” the spokesperson said.
Reports say that about 45 staff, most of who are in support roles, may be affected. Last year, Ince & Co cut 32 roles in London.
Gordon Dadds acquired Ince UK at the end of 2018 for £27.3m and began trading as Ince Gordon Dadds in London on 2 January. The acquisition did not include the international offices of Ince International, which continue to operate as Ince & Co.
The acquisition was made using a “pre-pack” deal. A spokesperson told Australasian Lawyer that following the acquisition of members’ interest in Ince & Co LLP, the Gordon Dadds Group was advised that utilising the procedure would facilitate the transfer of Ince’s regulated business to Gordon Dadds LLP and minimize the risk to the listed firm’s investors. The “pre-pack deal” included an agreement that 24 equity partners transfer to Ince Gordon Dadds and commit to staying 18 months at the newly merged firm.
(An earlier version of the story said that Ince UK was in administration when Gordon Dadds acquired the firm. The story has been updated after clarification from the Gordon Dadds Group. – Ed.)