Layoffs

Yet Another Large Firm Shuts Down, Leaving Nearly 300 Jobless

This is turning out to be a cruel, cruel summer for law firms.

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This is turning out to be a cruel, cruel summer for law firms. As we mentioned last month when Butler & Hosch, one of the country’s largest foreclosure firms, unexpectedly shuttered, “[l]aw firms come and law firms go, but if they go suddenly and unexpectedly, they leave complete catastrophes in their wake.” Today, we have unfortunate news about another large firm that suddenly went under, and this time, nearly 300 people stand to lose their jobs as a result of the firm’s failure.

According to a WARN Act notice filed this week with the New Jersey Department of Labor and Workforce Development, Zucker Goldberg & Ackerman, a firm that represents banks and mortgage servicers in foreclosure, bankruptcy, and eviction actions, will be laying off approximately 289 employees on or before August 24, 2015. NJBIZ.com, which first reported the news, notes that the firm cited “current and anticipated profitability insufficient to sustain current operations.” The firm previously had legal troubles in 2013, when it was involved in a class-action suit concerning misleading debt collection notices.

We knew that bankruptcy work was slow lately, but we didn’t think that it was this slow. We wish the hundreds of lawyers and legal professionals who may be affected at Zucker Goldberg & Ackerman the best of luck while they seek new job opportunities.

If your firm or organization is reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive — we’ll never ignore you. You can email us or text us (646-820-8477). Thank you very much!

Law firm’s closure could result in nearly 300 job losses [NJBIZ.com]
Nearly 300 employees of N.J. law firm facing layoffs, report says [NJ.com]
Zucker Goldberg Sued Over Debt-Collection Notices [Law360 (sub. req.)]
Nearly 300 employees will lose jobs, law firm says in layoff notice [ABA Journal]

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