Biglaw

Biglaw Firm Announces Nationwide Buyout Program

Which major firm wants to trim its payroll, and how generous are the buyouts being offered?

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It’s been quite some time since we’ve written about layoffs or voluntary buyouts here at Above the Law, but with technology and innovation bombarding the legal profession with new offerings day in and day out, we knew that it would have to happen sooner or later.

We recently received word that Morgan Lewis & Bockius will be offering voluntary buyout packages for all of its legal secretaries, across the country. Sources say that the firm’s separation package is extremely generous, and that those who take the deal will receive 2 weeks’ salary for each year of service, up to 52 weeks’ pay. Compared to the six-month cap we’ve seen at many Biglaw firms, longtime legal secretaries at Morgan Lewis could be walking away with a huge payday should they choose to leave.

We reached out to MLB for confirmation, and a spokesperson shared this statement:

As we continue to focus on technology innovation and cost effective solutions for our clients, as well as the practice needs of our lawyers, we have decided to offer our U.S.-based legal secretaries a voluntary separation opportunity. This is a purely voluntary offering, and we have no current plans for a group involuntary separation program, regardless of the level of participation in the voluntary offering.

We wish all of the legal professionals at Morgan Lewis who accept the buyout the best of luck should they seek new job opportunities in the legal industry.

If your firm or organization is closing its doors or 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; this is a subject we cover quite closely. Please email us or text us (646-820-8477) with any information you might have. Thank you.

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Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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