Law Practice Management
It’s Official: A&O Axes 450 Today
Posted Apr 30, 2009, 03:54 pm CST
By Martha Neil
Implementing a restructuring plan announced earlier this year to deal with the dismal economy, Allen & Overy laid off about 250 lawyers and 200 staff today.
Among the lawyers being let go are 47 partners, reports Legal Week.
Another 35 partners at the London-based "magic circle" international firm are either having their pay cut or being de-equitized.
Earlier coverage:
ABAJournal.com: "A&O to Ax Up to 250 Lawyers and 200 Staff, Freeze Pay, Ask Partners for Capital"
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