Proskauer Rose Says 35 Associate Layoffs Due in Part to Low Attrition Rate
Many law firms are attributing lawyer layoffs to the economic downturn. The latest law firm to announce layoffs is citing an additional reason: Fewer associates are voluntarily leaving the law firm.
In a statement issued yesterday, Proskauer Rose said it is laying off 35 associates and 25 administrative staffers, the American Lawyer reports.
“We are taking these actions in response to the worldwide economic crisis, as well as an unprecedented reduction in our historical lawyer attrition rate, which requires that we align our staffing with current and projected levels of activity on behalf of our clients,” the statement said.
Those laid off will still be eligible for 2008 bonuses, and will receive severance pay, health care benefits and outplacement counseling.
Above the Law was the first to report the layoff news.
