125 Laid Off at Dechert; 60 Cut at Edwards Angell
Posted Mar 26, 2009 8:25 AM CST
By Debra Cassens Weiss
Two more law firms announced layoffs today.
Dechert is laying off 125 people, and Edwards Angell Palmer & Dodge is laying off about 60 people.
Dechert says its layoffs affect offices in the United States, Europe and Asia.
Firm chairman Barton Winokur announced the layoffs in a memo provided to the ABA Journal. “In light of the decreased market demand for legal services worldwide, we are planning to reduce the number of lawyers and other time keepers in the firm by 63 and administrative staff by 62,” the memo says. “Needless to say, we are taking these steps reluctantly and with great regret.”
Above the Law broke the news.
Above the Law also had news of the Edwards Angell layoffs. A law firm memo posted on the blog said about 25 lawyers and 35 staff members will be cut. They will receive "severance arrangements similar to those offered by the many other firms that have also made these difficult decisions," the memo says.
A firm spokeswoman has confirmed the report.