Now in Legal Rebels:
Posted Mar 03, 2009 05:37 pm CST
Orrick has announced that it is laying off about 100 associates and 200 support staffers at its U.S. and international offices.
The layoffs will affect offices in the United States, Asia and Europe, according to an announcement published on Above the Law. “These actions are unrelated to performance and affect attorneys and staff throughout our offices and practices,” the statement says.
Legal Week says the cuts represent about 12 percent of the firm’s associates and of counsel.
Laid-off lawyers will receive three months of severance pay, two months less than lawyers cut in a fall round of layoffs, according to the Am Law Daily.
Managing partner Ralph Baxter told the Am Law Daily that associates at all levels, including first-years, are affected by today’s layoffs.
Baxter said no further layoffs are anticipated. “We hope to and intend to proceed from here without further reductions,” he told the Am Law Daily. But, he added, “You never know what tomorrow will bring.”
Law students offered jobs at the firm are also affected, Above the Law says. New associate start dates have been pushed back to 2010, with some starting in January and others in March. Those who agree to work for a year at a public interest organization will be paid $75,000 by the firm.
The cuts are in addition to Orrick’s layoffs last fall of about 35 staffers and 40 lawyers in the firm’s real estate, structured finance and corporate practices.
The law firm has also frozen 2009 associate pay.