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November 20, 2008 5:11 PM

Layoff News: Squire Sanders Cuts 30 Associates, Staff

Posted by Zach Lowe

Quick update about layoffs at another premiere Am Law firm: Squire, Sanders & Dempsey has laid off 30 employees, all associates and paralegals, according to a firm spokeswoman. The layoffs were first reported on the blog Above the Law.

In a one-paragraph statement, the firm indicated that the layoffs resulted both from annual associate reviews and the poor economy. Thirty "is a higher number than usual leaving following performance reviews," the firm said. "Admittedly, current and projected business conditions influenced the timing of these decisions. Like all firms, we are forced to align our resource capabilities with project client service levels and make some
hard personnel decisions. That may sound harsh to some and sound like a 'lay off' to others but we are working closely with all professionals affected and providing support and assistance."

A firm spokeswoman would not give the precise numbers of associates and paralegals let go this week. They would not comment beyond the above statement.

Squire Sanders was most recently in the news for winning a $5.5 million contract to advise the Treasury Department in buying up troubled assets and doling out money to banks as part of the $700 billion bailout.

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