About a month ago, after Dentons cut 60 positions across 22 offices, we predicted that more Biglaw layoffs would be coming soon, but we bet you didn’t think that partners would be affected before associates. This is what’s been happening at the world’s largest law firm since January, and according to several sources, U.S.-based partners have been affected.
What’s the cause of the latest round of cuts at Dentons? The firm has apparently missed its budget for two years running, and those partners who didn’t measure up have been kicked to the curb. The Am Law Daily has more information on the layoffs:
[F]ormer lawyers, who spoke on condition of anonymity, said profits had been tamped down by poor revenue collection and high operational expenses shouldered by the U.S. partnership, including millions of dollars in salary and bonuses that went to the firm’s global management and staff.
“This year’s unhappiness was last year’s unhappiness compounded,” said one lawyer who recently left the firm.
The firm’s 90-day departure period — which makes it easier for affected lawyers to find jobs elsewhere — makes it almost impossible to be able to distinguish which partners were forced out and which ones left Dentons voluntarily. That being said, some partners who were canned last month are still listed on the firm’s website. Per the report from Am Law, some of the partners who are currently in limbo are biding their time out of the firm’s New York, Chicago, Atlanta, and Washington, D.C. offices.
When asked for details about partners in the U.S. who were recently laid off, Dentons declined to comment: “We do not comment on the specifics of our partner review process, though, as is the case with virtually every law firm, there is a regular review where the current and future needs of our clients are considered.”
We fear even more cuts are coming in Biglaw. If your firm or organization is reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. You can email us or text us (646-820-8477). Thank you for helping us to bring transparency to an often opaque profession.
Dentons Culls Partners Amid Budget Shortfall [Am Law Daily]
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Earlier: Nationwide Layoff Watch: 60 Positions Across 22 U.S. Offices
Staci Zaretsky is an editor at Above the Law. She’d love to hear from you, so feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.