Clients Love Flat Fee Billing Based on Defined Deliverables
Over the Hump (OTH) Wednesday: Vote Now on the Best Posts

Large Law Firms Continue to Implode: Historic 800 Law Firm Jobs Lost in a Single Day

On Friday the 13th, Law.com reported 800 associates and support staff in some of the largest firms in the nation lost their jobs.  For these people, Friday the 13th will always mean bad things.  The reason given for these layoffs was a downturn in the economy. These large law firms are finding they have to make large cutbacks in order to make a profit.  In some cases, the employees were given generous severance packages, along with outplacement counseling.  One firm rescinded offers to incoming associates and cut its summer program.  We may see clients of these large firms looking for other representation as the higher paid attorneys start doing work that the lesser paid associates did in the past.  I want to thank OverflowLegal and SpartyLaw which turned me on to this post.

Comments

Law Firm Jobs Terminated

The firms that announced cuts last week included: DLA Piper, which trimmed 80 lawyers and 100 staff; Bryan Cave, 58 lawyers, 76 staff; Dechert, 19 lawyers; Holland & Knight, 70 lawyers, 173 staff; Goodwin Procter, 38 associates, 36 staff; Cozen O'Connor, 61 staff; Luce Forward, 12 lawyers, 15 staff; Nixon Peabody, 20 lawyers, 36 staff; Epstein Becker & Green, 23 lawyers, 30 staff; and Faegre & Benson, 29 lawyers.

The Layoff List

* Akin Gump
* Ballard Spahr Andrews & Ingersoll
* Bell Boyd & Lloyd
* Bingham Mccutchen
* Blank Rome
* Brown Rudnick Berlack Israels
* Bryan Cave
* Buchanan Ingersoll & Rooney
* Cadwalader, Wickersham & Taft
* Cahill Gordon
* Clifford Chance
* Cooley Godward
* Dechert
* Dewey & Leboeuf
* Dickstein Shapiro
* DLA Piper
* Drinker Biddle & Reath
* Duane Morris
* Epstein Becker
* Faegre & Benson
* Fenwick & West
* Fish & Richardson
* Foley Hoag
* Fragomen, Del Rey, Bernsen & Loewy
* Freshfields Bruckhaus Deringer
* Fried, Frank, Harris, Shriver & Jacobson
* Goodwin Procter
* Heller Ehrman
* Hogan & Hartson
* Holland & Knight
* Howrey
* Hunton & Williams
* Jenner & Block
* Katten Muchin Rosenman
* Kaye Scholer
* Kirkland & Ellis
* Linklaters
* Loeb & Loeb
* Lovells
* Luce Forward
* Mayer Brown
* McDermott Will
* McKee Nelson
* Milbank Tweed Hadley & McCloy
* Moore & Van Allen
* Morgan & Finnegan
* Morrison & Foerster
* Nixon Peabody
* O'Melveny & Myers
* Orrick, Herrington & Sutcliffe
* Patton Boggs
* Paul, Hastings, Janofsky & Walker
* Pillsbury Winthrop Shaw Pittman
* Powell Goldstein
* Proskauer Rose
* Reed Smith
* Ropes & Gray
* Seyfarth Shaw
* Shutts & Bowen
* Simpson Thacher & Bartlett
* Sonnenschein Nath & Rosenthal
* Squire, Sanders & Dempsey
* Sutherland Asbill & Brennan
* Synnestvedt & Lechner
* Taylor Wessing
* Thelen Reid Brown Raysman & Steiner
* White & Case
* Wilson Sonsini
* Winstead
* Wolf Block

Bill E

Looks like there will be a lot of virtual lawyer talent out there. It will be interesting to see if there is a new wave of of counsel relationships and virtual lawyer arrangements which flow from the layoffs. One thing is for sure, clients will benefit from the opening of smaller boutique type firms who will perform more efficiently for the client.

Mark

The comments to this entry are closed.