Shine Lawyers on trajectory to beat Slater and Gordon Australian revenue

By Peter Frankl. Slater and Gordon is reporting declining revenue at the same time as its arch-rival is reporting significant gains. Shine Lawyers achieved revenue in the December 2017 half-year of $88 million. Of this total, $58 million was categorised as personal injury and $30 million as emerging practice areas.  Slater and Gordon is abandoning general law in favour of focusing on its personal injury business. For the December 2017 half-year, Slater and Gordon reported personal injury revenue of $83 million. This was a 4.5% decline compared to the previous equivalent period and part of a longer term decline, at least since 2014, when […]

Declining revenue makes breaking-even challenging for Slater and Gordon

By Peter Frankl. Stopping the losses is challenging enough when revenue is stable but when revenue is declining, the degree of difficulty is at another level. Previous shareholders and lenders have taken their losses and drawn a line with their Slater and Gordon experience. The new owners, headed by Anchorage Capital Group, have been described by various labels including vulture fund and turnaround fund. It will have to be a genuine turnaround for the new owners to avoid being the next in line to see their investment wiped out.  In February 2018, John Somerville was appointed the new CEO of Slater […]

Slater & Gordon to Exit General Law to Focus on PI, Class Actions and Union Practice

Slater & Gordon has announced that it will: Downsize the general law business, by winding down or divesting the practice areas of Succession, Criminal, and Family Law to focus on Personal Injury, Class Actions and the Industrial/Union practice. Retain a smaller commercial litigation practice. Expand Union Services to maintain a criminal services offering and free wills for our union clients as part of our strong commitment to the Australian Trade union movement. Continue to focus on improving the Firm’s service delivery. In addition, Slater & Gordon has announced that current CEO, Hayden Stephens has decided to leave the company. Slater and […]

Cost Cutting to affect 7 per cent of Slater & Gordon Australia workforce

Slater & Gordon has announced that it will implement a cost cutting plan which will affect approximately 7% of its Australian workforce.  At 30 June 2017 the company reported an Australian workforce of 1,140 people across 51 locations.  The cost cutting will include reducing the number of office locations but the company stated that “the majority of our existing national office network will be maintained.” The company further stated that “the implementation of a business-wide transformation plan, including cost reductions and structural changes, is necessary for the future sustainability of the Australian operations.” © 2017 Legal Practice Intelligence