BigLaw firm confirms 'small number' of layoffs, pushes back start dates for some associates
In a statement provided to the ABA Journal, Katten Muchin Rosenman said many clients are facing a challenging environment because of “rapidly shifting economic conditions.” Image from Shutterstock.
Katten Muchin Rosenman has confirmed that it is “parting ways with a small number of our attorneys and business support professionals.”
In a statement provided to the ABA Journal, the law firm said many clients are facing a challenging environment because of “rapidly shifting economic conditions.” The result has been a decrease in demand for some legal services.
”After working through these conditions for some time and a careful review of our business, we made the difficult decision to address this overcapacity,” the statement said. “Where possible, we reassigned team members to practice groups where demand exceeds capacity, and our reductions were limited to groups where existing and expected demand is diminished.”
The firm is also deferring start dates for a portion of the incoming associate class until Feb. 1. The others will start as usual in October.
“Parting with talented colleagues and good friends is not easy,” the statement said. “Our actions are not a negative reflection on our colleagues or their contributions to our firm. Rather, the decision reflects the reality of the business environment in which we find ourselves and our commitment to continually provide development opportunities that allow our people to grow. While difficult, we believe our decision will keep the firm strong and well prepared to serve our clients and our people.”
Above the Law also had the news.