Posted Feb 25, 2014 08:05 pm CST
In a first for Kasowitz, Benson, Torres & Friedman, it is being reported that the firm has made about 30 layoffs, including a number of lawyers.
Those let go primarily worked out of the firm’s New York office, the New York Law Journal (sub. req.) reports, relying on information from unidentified sources. Most of the lawyers let go were associates, but the group also included a few partners, counsel and staff.
“This was really the first time we’ve experienced anything remotely like this in our 21 years,” an unidentified lawyer told the legal publication. Although the firm is “extraordinarily busy,” the lawyer said layoffs were needed because a number of big cases related to the credit crisis had recently concluded.
“It’s a matter of us managing the pipeline,” the lawyer said.
Kasowitz was formed in 1993 by lawyers from Mayer Brown.
Above the Law first posted about the Kasowitz layoffs.
The firm did not immediately respond to a request for comment Tuesday by the ABA Journal.