The hits to the Chicago market keep on coming. In the wake of Katten Muchin Rosenman laying off 21 attorneys, and Sonnenschein Nath & Rosenthal cutting 25 attorneys and additional staff, Jenner & Block is getting rid of 10 partners:
The Chicago-based firm is asking about 10 partners, both equity and non-equity, to exit with the bulk of those affected currently working out of the firm’s biggest office in Chicago, the sources said. No particular practice area is more affected than others. The departures equate to about 6 percent of Jenner’s 155 equity partner headcount and 2 percent of the overall 490 lawyer headcount. The firm declined comment.
Remember that happy-happy-joy-joy meeting Jenner held earlier this month? According to a tipster, Jenner associates were told:
not to worry about the issues on wall st- they will not adversely affect Jenner’s bottom line. Jenner is having a great year and bonus are expected to be as good or better than last year.
Well how does that statement jibe with cutting 10 partners? As one commenter put it:
A rich man doesn’t need to tell you that he’s rich.
The flip side below the fold.