Legal News

And the First Week of Spring Brings . . . More Layoffs

By Ashby Jones

Thursdays and Mondays. Those seem to be the days of the week that bring the most bloodletting at the big firms. Today is, sadly, one of those days.

Let’s get to it: Dechert announced earlier today that it has “begun the process” of laying off 125 people — a group comprised of 63 lawyers “and other time keepers” and 62 staff. The reductions will reportedly affect offices in the United States, Europe and Asia. Click here for the story from the Philly Legal Intelligencer.

Above the Law has done its usual yeoman’s work rounding up the day’s other carnage. Clifford Chance has announced it’s laying off 24 more transactional attorneys in its New York office, while Edwards Angell lowered the boom on 60 people — 25 lawyer and 35 staffers.

By our rough count, that’s 209 people laid off today that we know about. It’s not exactly Black Thursday; but definitely a very dark gray Thursday.

Full post as published by Law Blog - WSJ.com on March 26, 2009 (boomark / email).