Asset management firm tight-lipped on TC cancellation reports
MJ Hudson supposedly releases 12 rookies
An asset management consultancy firm has declined to comment on reports that it’s preparing to cancel the training contracts of up to 12 trainee solicitors.
MJ Hudson is set to terminate the roles at the end of this month, according to reports, with rookies understood to be at various stages of their training.
The London-listed business declined to comment when approached by Legal Cheek.
The reports come just a month after EY resigned as the firm’s auditor, stating it had “lost trust and confidence in the company’s management”. MJ Hudson’s chief executive resigned two days later.
In January, the FT (£) reported that the business was looking at ways to cut costs and strengthen its balance sheet following a slowdown in fundraising and deals activity.
14 Comments
Anon
Surely SRA can step in? Very harsh to let go of people who are mid-TC. Could completely derail their career.
Peak
This is so peak..but I swear a similar thing happened to King Wood & Mallesons and a lot of those trainees were able to move to another firm as a trainee. I recall being on a vac scheme and there was a trainee at AG who said he was former trainee at KWM that collapsed. Not sure what the process in terms of moving. Hopefully hr or the senior management have contacts to help them.
Bhh
The sad thing is, the senior guys will be fine…it’s always the juniors that suffer.
Ttgg
Are they a law firm or is this like a in-house TC? And what’s their NQ salary?
phatboi
’bout tree fiddy fi
top whacccccc
Anonymous
I know someone who works there – such a shame what’s happening to them. It’s a separate law firm within a wider asset management group – NQ’s are on ~£85-90k.
Good whack
Good whack for a firm that no one has really heard of. Who are their competitors and what are their hours like?
Anonymous
What colour is your Lamborghini?
David Brent
Horrendous for the youngsters. Hope there is a firm out there willing to help them.
lol
Lool love how you assume they are all super young. Some might be career changers or parelegalled for a while
lol back
Hmm. How do you do on those Watson Glaser critical thinking tests, bud?
Reply to “back”
Dumbass, what does “youngsters” mean to you. Not everyone who’s a trainee is “young of age”.
I get 90% in Watson Glasers, yourself bud?
Oooo Chimpanzee That
Can Wernham-Hogg not take them in-house?
3PQE
SRA when trainees need help: I sleep
SRA when trainees make a mistake after being overworked in a toxic environment: YOU’RE STRUCK OFF