Law Practice Management
Wilson Sonsini Lays Off 45 Lawyers, 68 Staff, Freezes Associate Pay
Posted Jan 26, 2009 5:19 PM CDT
By Martha Neil
Last week it was Cooley Godward Kronish. And now Wilson Sonsini Goodrich & Rosati is announcing more than 100 attorney and staff layoffs.
Despite other efforts to reduce costs, the worsening economy is now making it necessary for the famed Silicon Valley-based firm to cut 45 attorneys and 68 staff from its roster, the firm announces with "utmost regret" in an internal memo obtained by Above the Law.
"Given the prolonged economic uncertainty, we must continue to be extremely diligent in managing our business, while still rewarding strong contributions and performance," the memo continues. "As such, we will not be making associate step salary increases this year, but we will be paying out bonuses" and profit-sharing contributions.
Wilson Sonsini has approximately 650 lawyers in eight offices throughout the United States and in Shanghai, China.
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