The hits just keep on coming.
If you thought being perennially in the Am Law 100 rankings would somehow shield a Biglaw firm from having to make tough cuts during economic hard times, well, the coronavirus is here to laugh at your hubris. Here at Above the Law, we’ve been inundated with reports of firms making tough cost-cutting measures in order to weather the economic downturn, and it’s clear even large national firms are feeling the pinch.
The latest Biglaw firm to make cuts in Nixon Peabody. Though the firm hasn’t lowered the boom on attorneys (so far), an astonishing ~25 percent of staff members have been furloughed. The furlough becomes effective on April 6th and will remain in place “until further notice.”
If your firm or organization is slashing salaries, 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. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).
If you’d like to sign up for ATL’s Layoff Alerts, please scroll down and enter your email address in the box below this post. If you previously signed up for the layoff alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each layoff, salary cut, or furlough announcement that we publish.
Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).