Hogan
Lovells,
a
firm
that
took
in
$2,682,000,000
gross
revenue
last
year,
making
it
11th
on
the
Am
Law
100
ranking,
is
closing
three
of
its
offices.
Yesterday,
the
firm
confirmed
that
its
Sydney,
Australia;
Johannesburg,
South
Africa;
and
Warsaw,
Poland
offices
will
be
axed,
but
somehow
insisted
the
move
was
not
“economic
driven.”
HoLove
CEO
Miguel
Zaldivar
told
the
American
Lawyer,
“We’re
just
following
the
market,
the
demand
for
our
services
at
that
high
end,
highly
sophisticated
level.
It’s
happening
in
other
places.
So
I
think
it’s
healthy
for
our
organization
to
be
honest
with
itself
and
see
where
the
greatest
opportunities
are.”
In
a
statement,
the
firm
said
that
it
was
a
“difficult”
decision
but
one
that
was
“needed”
to
“achieve
transformational
growth
and
drive
greater
success”
particularly
in
key
markets
both
in
the
U.S.
and
abroad,
including
London,
New
York,
California,
Texas,
Washington,
D.C.,
among
other
international
markets.“We’re
not
retrenching.
We’re
committed
to
servicing
the
G20
economies,”
Zaldivar
said.
Of
course,
this
does
mean
layoffs.
Approximately
65
attorneys,
11
of
whom
are
partners,
and
58
staff
will
be
let
go
as
the
offices
close
their
doors.
Impacted
employees
were
told
the
news
by
senior
leadership
in
person
over
the
last
few
days.
Despite
the
cuts,
Zaldivar
said
the
firm
does
not
anticipate
a
dip
in
its
2024
financials,
“I
can
tell
you
in
general
terms
that
we
have
seen
demand
continue
to
grow.
We
are
seeing
revenue
continue
to
grow.
This
management
is
quite
responsible
when
it
comes
to
the
expense
side
of
the
equation.
So
we
are
optimistic
about
our
performance,
but
I
don’t
have
any
projections.”
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
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Above
the
Law
thrive.
You
can
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us or
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us
(646-820-8477).
If
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Layoff
Alerts,
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If
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previously
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within
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each
layoff,
salary
cut,
or
furlough
announcement
that
we
publish.
Kathryn
Rubino
is
a
Senior
Editor
at
Above
the
Law,
host
of
The
Jabot
podcast,
and
co-host
of
Thinking
Like
A
Lawyer.
AtL
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so
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Feel
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