The first quarter of 2014 was relatively good for large law firms. But that hasn’t stopped major firms from trimming their ranks. In fact, some of the strong performance in the first quarter appears to be attributable to prudent management of expenses — including employee compensation.
This week brings word of still more layoffs. The latest reduction is sizable, affecting about 40 employees.
Which firm is making the cuts, and what is the mix between lawyers and staffers?
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The firm is Snell & Wilmer, which has more than 400 lawyers in nine locations. No lawyers were affected in this week’s layoffs.
“This week we notified approximately 40 members of our support staff that they would be part of a reduction in force,” said John Bouma, chairman of Snell & Wilmer. “This decision was made to achieve better alignment and recognize increased efficiencies. Affected staff members will receive severance packages based on their tenure at the firm. These decisions are never easy, particularly when they involve good people who have served our firm and our clients well over the years. Snell & Wilmer remains debt free, financially strong, and focused on continuing to efficiently provide outstanding legal services to our clients.”
Good luck to the employees affected by this reduction. With law firms doing reasonably well, hopefully these individuals can find new positions within the legal profession.
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