Today Dewey & LeBoeuf announced that they would be closing their Charlotte, North Carolina office as of December 31st.
Dewey appears to be in full contraction mode, having already announced the closing of offices in Hartford, CT; Jacksonville, FL; and Austin, TX.
According to a firm spokesperson:
As part of its continuing review of global office locations, Dewey & LeBoeuf will be closing its office in Charlotte, North Carolina. The decision has been made in part due to the economic conditions in the market, which has seen the consolidation of several major banking institutions and a challenging structured finance market. The Charlotte office, which has eight attorneys, will close on December 31, 2008.
The Charlotte market, a burgeoning center of the U.S. banking industry, continues to take hits to its legal market. Last week, Moore & Van Allen laid off around 20 staff members.
According to one tipster, the 8 Charlotte attorneys will receive a 12-week severance package.
Update (5:19): A Dewey spokesperson now confirms that there are 11 lawyers in the Charlotte office. The associates will be laid-off while the firm evaluates relocation options for the partners.