Posted Apr 01, 2011 11:28 am CDT
Staffers working to wrap up operations at Howrey learned in a memo Thursday that they would be out of a job by the end of a day.
Staffers were told they are being laid off because Citibank cut funding to cover payroll at the disbanding law firm, the Am Law Daily reports. The job cuts apply to most staffers, hitting them more than a month ahead of schedule, the story says.
“We did not foresee this outcome,” the memo to employees says.
Above the Law was first to report the news.
Citi Private Bank, Citibank’s law firm unit, asserts that Howrey mischaracterized its role in the layoffs, according to both stories. “Citi is not responsible for the employment practices of a client and has acted in a professional manner throughout this process,” the bank said in a statement.