Brown Rudnick rescinds offers to 10 associates, cites declining client demand for first-year lawyers
Posted Apr 15, 2014 12:29 pm CDT
Brown Rudnick is rescinding offers to 10 out of 23 associates who were scheduled to join the firm in the fall.
Most of the affected associates had offers to work in the firm’s New York and Boston offices, the law firm says in a statement forwarded to the ABA Journal. Above the Law broke the news after receiving tips over the weekend.
Brown Rudnick cites declining client demand for first-year associates and relatively flat demand for legal services, though overall financial performance has been strong. The firm has added business and legal staff, but most of the growth has been in London, Orange County and Paris. “Market conditions have remained challenging,” the firm says.
Brown Rudnick says it was able to relocate some of last year’s class of first-year associates to other domestic offices outside of New York and Boston, “but that is not practical to do for this year’s class.”
The firm says it will offer the affected students a transition payment, outplacement assistance, and reimbursement for their bar review courses and other bar-related costs.