Bankruptcy, Biglaw, Dewey & LeBoeuf, Dissolution, Lateral Moves, Layoffs, Money, Musical Chairs, Severance, Staff Layoffs

Dewey Have the Ability To Keep Paying Severance? Apparently Not

Dewey & LeBoeuf has cut off severance payments to previously laid-off employees. How are they reacting to the news?

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DEWEY & LEBOEUF — MEMORANDUM — SEVERANCE PAYMENTS

From: Office of the Chairman
Subject: Your Payments From The Firm
To:
Date: Monday, May 14, 2012

You are receiving this email because our records show that you have received severance payments. Unfortunately, given the firm’s current financial situation, at this time, it is not able to pay you any further amounts.

If you are receiving firm-paid COBRA, you will remain covered under the firm’s medical insurance with Empire BlueCross BlueShield until May 31, 2012. After that date, the firm will not make any further COBRA payments. You may be eligible to continue your COBRA coverage on a self-pay basis. You will receive further information about COBRA from ADP, the firm’s COBRA administrator.

If you do not receive firm-paid COBRA, any existing COBRA arrangements that you have put in place may continue for so long as you maintain your personal COBRA payments.

Please note that your COBRA coverage (including, without limitation, any applicable co-payments, deductibles and other out-of-pocket expenses) will be in accordance with applicable health insurance plans adopted by the Firm, if any.

If you would like to discuss your personal COBRA arrangements with ADP, you can call ADP COBRA Services at [redacted].

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Dewey and Greenberg Tie the Knot — in Poland [WSJ Law Blog]
Sutherland Expands Insurance and Litigation Practice with Addition of Dewey & LeBoeuf U.S. Litigation Practice Co-Head [MarketWatch (press release)]

Earlier: Boy, Dewey Have A Reading List For You!
Dewey Have Any Partners Left To Be Poached? Not Many After the Latest Departures
Dewey Have Comment on Recent Developments? Yes — Firm Is Cutting 5 to 6 Percent of Personnel

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