Fast-growing national law firm Taylor Rose has unveiled plans for a significant restructure, set to consolidate its departments and discontinue certain teams. This move, announced on 17 September 2024, will involve the closure of four specific teams, signalling a strategic shift aimed at future growth.
The firm, which employs over 800 staff across 40 offices, will streamline its operations by merging its 13 departments into three primary divisions: property and private client, dispute resolution, and corporate/commercial. Notably, the legally aided family and criminal & extradition teams will be closed, although some lawyers will remain to manage privately funded work.
In addition, Taylor Rose has decided to disband its credit hire and costs teams as these areas no longer fit within its long-term strategic plans. The personal injury department will also undergo a strategic review, focused on integrating the Taylor Rose and legacy McMillan Williams teams, the latter having been acquired in 2020.
Despite these closures, Taylor Rose will continue to handle legal aid for clinical negligence and inquest cases. Legal aid currently contributes to less than 4% of the firm’s turnover, which stood at £83.6 million for the year ending 30 September 2023, reflecting a 5.4% increase.
The restructuring is intended to simplify the business model, boost profitability, and foster sustained revenue growth. A period of consultation with affected employees will begin, though the exact number of redundancies remains uncertain. The firm has committed to supporting those affected, offering assistance both within the firm and through external opportunities.
Adrian Jaggard, Chief Executive of Taylor Rose and its parent company AIIC Group, stated, “We’ve made these decisions for the long-term benefit of the business, but of course, they’re not easy decisions to make. I wish to thank all the individuals in the teams impacted for their service, and we will of course do everything we can to support any team members affected.” He further added, “Though change is never easy, the wider health of the business is very good and we are confident that the restructure will put us in an even stronger position to continue our growth.”
Last month, the firm also relaunched FDR Law, a general practice acquired in 2021, as a specialist property law firm for self-employed consultants. This demonstrates Taylor Rose’s ongoing commitment to strategic growth and adaptation within the legal sector.
This restructuring initiative underscores Taylor Rose’s commitment to refining its business structure in alignment with its strategic objectives. Despite the challenges accompanying such a transformation, the firm is poised to maintain its growth trajectory, reinforcing its position in the competitive legal market.
