Sullivan & Cromwell among law firms reportedly laying off employees, offering buyout packages
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Sullivan & Cromwell has reportedly laid off employees in multiple departments and offered buyout packages to many older employees.
Law.com has a story on the layoffs based on information from six sources. Up to 50 staff members were laid off, according to some of the sources who spoke with Law.com.
Sullivan & Cromwell also offered an early retirement package to employees if they are at least 55 years old and their age and years of service add up to 70, the sources said.
In addition, six chief or director-level personnel have left the firm, although it’s unclear whether the departures were tied to the layoffs, the article reported.
Sullivan & Cromwell’s executive director, Karen Braun, told Law.com that the firm does not comment on personnel matters.
A second law firm, Ice Miller, reportedly laid off at least 11 furloughed lawyers from multiple offices, according to Law360. The article is based on three sources who raised concerns because five of those laid off were lawyers of color.
Ice Miller did not respond to Law360’s requests for comment.
A third law firm, Fox Rothschild, confirmed to Above the Law that it fired six associates. The law firm said the dismissals “stem from productivity and performance issues.”
Above the Law questioned whether the dismissal were actually “stealth layoffs” undertaken for economic reasons.