Layoffs, McKee Nelson

Nationwide Layoff Watch: McKee Nelson (Redux)(Or: The proper way to do layoffs.)

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Layoffs are a fact of life in this terrible economy. But not all layoffs are created equal. They can be handled well, or they can be handled… poorly.

McKee Nelson, which last November laid off 32 (17 lawyers and 15 staff), recently announced a new round of cuts. This time the firm let go of 46 employees: six lawyers and 40 staffers.

While unfortunate, at least McKee Nelson handled the matter with class:

  • First the firm notified the affected individuals. Then it announced the news more broadly, at a firm-wide meeting — not on the Acela.
  • The firm is providing four months of severance. This is definitely on the high side (and much better than the one month, or really two weeks, that Roxana got).
  • The firm is also paying for four months of COBRA premiums — no small benefit, given the cost of health insurance these days.

    One can see why the firm was recognized by Vault in 2008 as the best law firm to work for.

    The final classy touch: McKee Nelson is not casting aspersions on its departing employees. To the contrary, the firm has nothing but warm words for the affected individuals.

    Read the statement that founding partner Will Nelson issued to ATL, after the jump.


    MCKEE NELSON — STATEMENT FROM WILL NELSON ON FEBRUARY 2009 LAYOFFS

    We have taken these actions because of a decidedly mixed outlook for 2009. While we expect our tax, business litigation, white collar/enforcement and structured products practices to remain strong, we foresee a continuation of low deal volume in structured finance and securitization,” stated Founding Partner Will Nelson. “As a firm, we have always operated within our means. While we are committed to continuing this conservative approach, this is a very sad day for us.

    The affected lawyers and staff are talented professionals who have been valued members of our firm. All are in good standing and none of these layoffs are performance-based. We will miss our colleagues and are doing what we can to assist them.

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