Whatever your views of the SRA, this is not good news. Although they say that they are being more supportive in their approach, it does suggest that more high profile closures are on the cards. This in turn means more redundancies.
How does this effect fee earners looking for a new job? Is it better the devil you know? And if you think your firm may be one of those on the list, should you look to move on before you are forced to? Time will tell.
Gazette report (and some trenchant comments) here.