March 10, 2009 6:08 PM
The Day in Layoffs: Cuts at Chadbourne, Paul Hastings, and Venable
Posted by Ed Shanahan
More cuts came down at a handful of law firms today. For the sake of simplicity, we're bringing you the firms, the numbers, and the latest stories.
CHADBOURNE & PARKE today confirmed that it has layed off 25 associates and counsel across 13 offices worldwide. Our colleagues at Legal Times have this report. Our colleagues at the National Law Journal report that the firm will delay the start date for its first-year associates until January; those incoming lawyers will get $13,000 "bar and expense" stipend, a firm spokesperson confirmed to NLJ. Legal blog Above The Law broke the news of the cuts, with bits from the firm memo announcing the layoffs.
ATL also carries the PAUL HASTINGS firm memo, which notes that, "in light of the deteriorating global financial market, we have announced today a regretted but necessary step of reducing our workforce by 44 associates and 87 staff."
At VENABLE, 16 lawyers, 5 paralegals, and 43 other staff members now count themselves among the unemployed. The lawyer cuts constitute 3 percent of the firm’s attorney ranks, according to Legal Times's Jeff Jeffrey.
Our colleagues at The National Law Journal have this wrap-up of the day's job cuts.
We will update with more on these and other cuts as they happen, and add the latest firm reports to our quickly growing LAYOFF LIST.Make a comment