Now in Legal Rebels:
Posted Apr 16, 2014 01:03 pm CDT
Seven prominent law firms have confirmed layoffs this year affecting an estimated 213 jobs.
The Am Law Daily did the math and found that five out of six of the job cuts were support positions. It’s “looking a lot like layoff season,” the story says.
The latest law firms to confirm job cuts were Fitzpatrick, Cella, Harper & Scinto and Nixon Peabody. Meanwhile, Brown Rudnick rescinded offers to 10 associates scheduled to join the firm in the fall.
The American Lawyer notes that Brown Rudnick saw an increase in profitability last year. But five of the six job-cutting firms that are in the AmLaw 200 had profit declines in early numbers reported this year, the story says.
Altman Weil principal Ward Bower told the Am Law Daily that firms often make cuts at the end of each quarter, and he expects more layoffs in the summer.
“There are still a lot of firms out there hoping the good old days are going to return, and are finally coming to the realization that that isn’t going to happen,” Bower said. He added that some firms are making cuts in hopes of becoming a more attractive merger partner.
The job-cutting firms are:
• Fitzpatrick Cella, which didn’t disclose its number of job cuts.
• Nixon Peabody, which cut 38 staffers.
• Edwards Wildman Palmer, which cut 42 administrative positions and laid off 10 lawyers.
• Bingham McCutchen, which cut 31 staffers.
• Kasowitz, Benson, Torres & Friedman, which cut about 30 people, mostly associates.
• Husch Blackwell, which cut 25 staffers.
• Eighty lawyer Downey Brand, which laid off 17 support staffers.