We continue to actively recruit, hire and invest in the firm’s core practice areas and in the past three months alone we have hired 13 associates, including 9 first-year associates, and 3 lateral partners. We expect to have a higher attorney head count at year end than at the beginning of the year.
But as the firm continues to make lateral hires, it looks like they are also continuing to cut associates. We understand that four associates were let go on Tuesday and that today will be their last day.
Our tipsters report that these attorneys will be receiving a 2 month severance package.
We’ve reached out to the firm, but Loeb & Loeb has not yet responded to our inquiries.
But it’ll be interesting to see how the firm describes the cuts. Last time, the firm said:
As part of Loeb & Loeb’s periodic attorney evaluation process and assessment of its overall personnel needs in its various practice areas, eight associates firmwide were notified that they were being let go.
We’ll see if these cuts are called performance related, or if they were triggered by the global economic meltdown.