Now in Legal Rebels:
Posted Mar 05, 2012 02:36 pm CST
Dewey & LeBoeuf is planning layoffs of both lawyers and staffers, according to a memo dispatched by chairman Steven Davis on Friday.
The firm is planning to cut about 5 percent of its lawyers and 6 percent of its administrative staff throughout its offices, according to the memo obtained by Above the Law. The blog estimates the layoffs will affect 50 to 60 lawyers.
Firm revenues increased in 2011, but its costs are also increasing, Davis says in the memo.
“Notwithstanding our results in 2011 and so far this year, the firm’s Executive Committee has decided to take proactive steps to align the firm’s resources with anticipated demand and strengthen the firm’s competitiveness in the global marketplace,” the memo says. “Some recent partner departures have been consistent with the firm’s strategic planning for 2012, and we expect some additional partners to leave. In addition, we are reducing the number of lawyers and administrative staff globally by approximately 5 percent and 6 percent respectively.”