Arent Fox Revokes Offers to 12 Incoming 1st-Years, Will Pay $20K
Posted Sep 24, 2009 12:59 PM CST
By Martha Neil
Updated: As some observers wonder why other law firms dealing with an oversupply of new attorneys in a struggling economy aren't considering a similar move, Arent Fox has confirmed that it is revoking offers to what the law firm describes as "some—not all" members of its incoming class of first-year associates.
They will be paid $20,000. "The firm sincerely regrets having to make this decision. The firm does believe however that the approach it has taken today is better than indefinite postponement of an associate’s projected start date," says Arent Fox in a written statement provided to Above the Law.
A total of approximately 12 associates got the ax, "about eight" in Washington, D.C., and "between two and three" in New York and one in Los Angeles, the firm's chairman, Marc Fleischaker, tells the National Law Journal.
Arent Fox laid off 13 associates and 15 staffers in March.
Updated on Sept. 25 to include information from subsequent National Law Journal article.