Some corporate associates lose their jobs at Cooley after performance reviews
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Cooley has confirmed that some associates have been let go as a result of midyear performance reviews.
Cooley made the statement to Bloomberg Law in response to reports that a group of corporate associates has been laid off.
“The firm concluded its annual mid-year associate performance review process this past summer,” said a Cooley spokesperson. “Any attorney separations that have occurred to date are a result of that process.”
According to Bloomberg Law, Cooley “staked out an aggressive position in the recruiting war” during a surge in deal work during the COVID-19 pandemic. The firm was known for “scooping up partners and associates from competing firms at a brisk pace.” Among those hired were corporate associates outside the firm’s footprint who were promised full-time remote work.
The story noted a slowdown in work caused by a nearly 29% decrease in mergers and acquisitions and a 90% decrease in initial public offerings through September of this year.