Posted May 04, 2012 10:41 pm CDT
Citing “a period of extraordinary difficulties in the last few days,” Dewey & LeBoeuf has warned all United States personnel in an internal memo “it is possible that adverse developments could ultimately result in the closure of the firm, which would result in the termination of your employment.”
The notice doesn’t provide a specific date when employment might cease. Such advance notice of potential mass layoffs is required under the federal Worker Adjustment Retraining and Notification Act (“WARN”) and a number of similar state laws.
Both the Daily Journal (sub. req.) and the DealBook blog of the New York Times report that the memo was sent, but provide somewhat differently worded versions of the missive. It appears that the Times article may provide the text of a cover memo, while the Daily Journal may be quoting from an attached letter.
The Times says the memo was sent late Friday afternoon.
The Wall Street Journal Law Blog also has a story.
Legal Week reports that the London office of Dewey is positioning itself to close as a crisis management team plans an orderly wind-down of the firm’s business there.
ABAJournal.com: “At Least 12 More Partners Exit Dewey & LeBoeuf for McDermott, Morgan Lewis and Pillsbury Winthrop”
Updated at 5:56 p.m. to link to Wall Street Journal Law Blog post.