Baker & McKenzie Lays Off 124
Posted Apr 7, 2009 4:13 PM CDT
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."
Chicago Tribune: "Another Chicago law firm lays off attorneys, staff"
ABAJournal.com: "Baker & McKenzie Axes 6 in NY; Is Kirkland Laying Off Income Partners?"