Law Firms
King & Spalding Cuts 37 Lawyers, 85 Staff
Posted Mar 6, 2009 5:09 PM CST
By Martha Neil
Atlanta-based King & Spalding has just announced that it is laying off a total of 122 people: 37 associates and counsel and 85 staff.
In a written statement, published by the Blog of Legal Times, firm chairman Robert Hays expresses regret for the layoffs, but says continuing decline in the national and global economy made the job cuts necessary.
The official news of the layoffs is also provided in an updated version of an Above the Law post which earlier today reported that an unknown number of King & Spalding layoffs were taking place, based on information from tipsters.
Those laid off will be provided with "a period of salary continuation to aid their transition," Hays writes. He didn't specify the offices and practice groups in which reductions will be made.
Additional coverage:
Atlanta Journal-Constitution: "King & Spalding law firm lays off 37 attorneys"
ABAJournal.com: "2 Major Law Firms Relay Bad News Today But Avoid Memos, Law Blog Says"
ABAJournal.com: "March Mayhem: Law Firm Layoffs in 1 Week Total Nearly 1,500"
Last updated at 9:35 p.m. to include link to Atlanta Journal-Constitution article.
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Comments
B. McLeod
Mar 7, 2009 4:57 PM CST
In good times, firm prosperity is due to the nearly God-like prescience and brilliant management skills of the partners. In hard times, job cuts are due to continuing decline in the global and national economy. Only a few months ago, these guys toyed with bailing out Thacher. Now, they’re putting on their own life vests. I need to stock up on some more popcorn.
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GA Peach
Mar 8, 2009 8:14 AM CST
The layoffs at all the big firms in Atlanta are actually much, much higher than being reported. It is almost a daily occurance so as not to attract attention to the true state of affairs. I would say that at least 50 lawyers have been “let go” from each of the three big Atlanta firms, maybe more.
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