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Nationwide Layoff Watch: Baker & McKenzie Ends The Brief Lull in Layoffs

baker-logo.gifI hope you enjoyed the brief lull in major layoff news. It’s been five days since Mayer Brown axed 135 people. Alas, Baker & McKenzie has broken the layoff silence. Above the Law has been able to confirm that the firm laid off 124 people today. We obtained this statement from the firm:

[M]anagement in North America and Global Services today has informed 38 attorneys and 86 paralegals and professional staff that their positions are being eliminated due to the economic downturn. These changes involve various practices, offices and Global Services departments in North America. Individuals affected will receive severance packages.

We also understand that the layoffs affected first year associates.

This is the second round of layoffs for Baker. Back in January, the firm laid off six associates in its New York office. Today’s moves were obviously much more widespread, and affected all of the firm’s offices. Last time, attorneys received a three month severance package, and we understand that is what today’s casualties will be getting as well.

Good luck to the people who lost their job just before the holidays.

Read the full statement after the jump.

Earlier: Nationwide Layoff Watch: Baker & McKenzie Joins the List

BAKER & MCKENZIE — STATEMENT — LAYOFFS

The current economic downturn remains exceptionally challenging for most businesses, and a large number of corporations have implemented major cost-cutting measures, including reductions in their use of outside professional services. This has had an adverse impact on almost every law firm. Although we have taken timely and aggressive steps to manage costs, it recently became clear that further steps were necessary.

Therefore, our management in North America and Global Services today has informed 38 attorneys and 86 paralegals and professional staff that their positions are being eliminated due to the economic downturn. These changes involve various practices, offices and Global Services departments in North America. Individuals affected will receive severance packages.

These are difficult times, and we regret that these decisions have become necessary. While our Firm remains financially healthy overall, the current economic climate has called for unprecedented actions, and these are important steps to ensure our continued financial health and our ability to provide high-value service to our clients.

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