Voluntary Buyout Watch: Biglaw Firm Seeks To Thin The Herd

Which major firm wants to trim its payroll through a voluntary retirement program, and how generous are the buyouts on offer?

SHEPPARD MULLIN RICHTER & HAMPTON LLP — MEMORANDUM — VOLUNTARY RETIREMENT PROGRAM

From: Ted Tinson
Sent: Tuesday, July 08, 2014
To: ALL-USER
Subject: Important – Voluntary Retirement Program & Staffing

Technology has changed the legal industry – the way we work today is very different than the way we worked as recently as five years ago. The entire legal market has responded, harnessing efficiencies in workflow that have changed staffing needs. Sheppard Mullin has always prided itself on being a great place to work. Today we are taking a step in our continuous process of managing these efficiencies and staffing levels.

We will be making limited and focused reductions to our office administrative workforce during the next 60 days, and will begin with a limited voluntary retirement program offered to certain employees age 65 and over. Our plan is to manage the Firm’s secretarial workforce, and certain other office administrative functions more tightly – all of the limited reductions to staffing will be focused in these areas, and in California only. Giving some of our employees the opportunity to voluntarily retire with some financial assistance may be attractive to those employees, and will help us understand any other reductions we may need to undertake in the near future.

Keeping pace with change as our business changes will continue to help keep our firm strong – and doing so in a way that is caring and consistent with our principles is important to us all. We think it is important for you to understand what is happening, and to help those around you who may be making choices as we move forward.

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