55 lawyers among 5% of global workforce being laid off at this BigLaw firm
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Dechert laid off 55 lawyers and 43 business professionals Tuesday, as the law firm began implementing cuts to “align our staffing levels with demand.”
The firm has begun a “redundancy process” in its London office that is expected to bring the total number of layoffs to 5% of the firm’s global workforce.
Above the Law broke the news when it published an internal memo announcing the layoffs.
Law.com, Bloomberg Law and Law360 also have coverage.
Those who are laid off will receive severance benefits and career counseling services.
“While this was a difficult decision, we continue to execute on the firm’s strategic plan by providing world-class legal service, focusing on areas of growth, bringing high-profile clients and matters to the firm, and advancing innovation in the legal industry,” the firm said in a statement provided to publications covering the cuts.