Nationwide Layoff Watch: Morgan Lewis Lays Off Associates. Numbers Could Reach 50
We are now receiving reports that Morgan, Lewis & Bockius fired a large number of associates. A firm spokesperson tells us:
Attorneys depart law firms for any number of reasons. The number leaving this year is consistent with prior year departures. It is inappropriate for us to comment on individual personnel decisions. However, reports of a firm wide layoff are incorrect.
But tipsters at the firm have gotten a different impression about what is happening at Morgan Lewis:
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I believe the total number will be around 50 attorneys. I do not know the number of staff members but I did see at least two secretaries crying on the way out.
Other tipsters also say that 50 or so associates and an undetermined number of staffers will be let go. Then again, our sources also suggest that the 50 have been concentrated in the corporate department, so maybe the layoffs aren’t “firm wide.”
Severance information and other Morgan Lewis notes after the jump.
Our sources report that the laid off associates will receive a three month severance package.
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It looks like Morgan Lewis did a lot to avoid firing anybody. The firm instituted a salary freeze earlier this month, even though MLB suggested in October that the firm would pay normal class appropriate raises. And the firm still hasn’t made a decision on bonuses.
Regardless of how many associates have left Morgan Lewis, we wish good luck to the newest members of Biglaw’s fastest growing club. I think it’s time to get jackets and a bad-ass insignia.
Earlier: Morgan Lewis Move to Merit Based Bonuses For FY 2009
Nationwide Pay Freeze Watch: Morgan Lewis Freezes Even Though They Said They Wouldn’t
Prior ATL coverage of law firm layoffs