Having had the opportunity to tell all affected associates, Mayer Brown is ready to publicly confirm the extent of the firm-wide layoffs that took place today:
Despite the current conditions in the worldwide financial markets, Mayer Brown is having a strong year, with an increase in gross revenues. Most of our practice areas are performing well. We have benefited greatly from our practice area and geographic diversity, including our recent
merger with JSM in Asia. However, as is the case in all other comparable law firms, some of our practice areas have been adversely affected by the slowdown in economic activity.
Accordingly, we have asked 33 lawyers and some support and administrative staff in our US offices to leave the firm. This reduction does not include lawyers who were asked to leave this year through our performance review process.
Those affected by this decision are good lawyers who have made valuable contributions to the firm. We intend to give them access to outplacement services and other benefits and a substantial period of time to find another job.
How many lawyers have left during the performance review process? The firm declined to say.
The firm also declined to break down the layoffs by office, but we’ve learned that New York and Charlotte were the hardest hit.
Multiple tipsters have reported that the decision was driven by Chicago management, not the branch office partners.
More after the jump.
But, based on today’s numbers, maybe Mayer could have used a capital infusion just as much. At least we now know that Mayer was really not in a position to take over all of Heller’s liabilities.
The market is now flooded with lawyer resumes from coast to coast. I don’t really know what to say to the new job seekers. It’s bad all over. Except, apparently, at Skadden.
Condolences to the fallen.
We’ll keep you posted on all the layoff news.