The interview is remarkable for the plain talk of Mr. Childs about the business realities of running a large international business that happens to deliver legal services.
When asked about the thorny issue of people leaving (with a push…), Mr. Childs tells it like it is:
He makes no apologies for the redundancies: “It is clearly important we keep our costs under control. We can’t simply expect to pass our costs down to clients. They are commercial in their businesses, and there is mounting pressure on us to move more mundane tasks to lower-cost locations.”
That crash you heard is the sound of GCs and CFOs falling off their chairs. Why? Many clients suspect that law firms are not just staffed for client needs. They fear they may be staffed in part for partner wants.
Two cheers for David Childs and Clifford Chance. Law firms that talk about costs and not just profits may find clients paying attention.
Now let’s turn up the volume, click here, and get back to work…