Law Firms
Baker & McKenzie Lays Off 124
Posted Apr 7, 2009 3:13 PM CST
By Martha Neil
Despite other efforts to keep costs down, the dismal economy has now made layoffs necessary, Baker & McKenzie announced today.
The megafirm is cutting 38 attorneys and 86 paralegals and staff in its North American offices, reports Above the Law, based on a written statement provided by Baker & McKenzie.
"Our firm remains financially healthy overall, thanks to our sound strategy and fiscal discipline, as well as our geographic and practice diversity," the statement explains, saying only that the layoffs affected "various" practices, offices and Global Services departments in North America. "But while we can be confident that the economic outlook will inevitably brighten, it is difficult to know when the upturn will begin."
Related coverage:
Chicago Tribune: "Another Chicago law firm lays off attorneys, staff"
ABAJournal.com: "Baker & McKenzie Axes 6 in NY; Is Kirkland Laying Off Income Partners?"
- How B of A’s GC Got Fired: Leave Now, and Leave Your BlackBerry Behind
- Schools Ranked by 'Super Lawyers' Produced
- Law Firm Price Wars Break Out as Some Try ‘Loss Leader’ Bids for Work
- Five Questions for Law Firms Abandoning Lockstep Compensation
- Judge Jails 2 Attorneys for Contempt in 4 Days
- Reed Smith Will Ask Nonequity Partners to Pony Up Possibly 15% of Pay
- Court Deputy Ordered to Apologize or Face Jail After Taking Lawyer's Paperwork
- Skadden Jumps on the Bonus Bandwagon
- ABA Executive Director Resigns
- Nasty Attitude to Co-Worker, Naughty Word in E-Mail Cost 2 Their Jobs
Should Supreme Court Justices Be Able to Review News Accounts Before Publication?
Comments
B. McLeod
Apr 7, 2009 4:09 PM CST
Sure, the economy will eventually recover, but individuals who have lost everything in the recession, not so much. Firms and companies that are already gone will still be gone as well.
Flag this comment
Add a Comment
We welcome your comments, but please adhere to our comment policy.
Commenting has expired on this post.