Legal Marketing & PR

Law Jobs And The ?R? Word - More Layoffs Around

By lawjobspipeline

Thelen Reid is the latest firm to announce layoffs, confirmed by AbovetheLaw reporting a layoff of 26 associates and 85 staff firm-wide.  That’s a layoff rate of around four per cent of Thelen’s total headcount of 600 lawyers.

Thelen co-chair Stephen O’Neal told ATL that the layoffs were spread out among groups, but with “some areas more impacted than others,” including certain parts of capital markets and cap-markets-related real estate work. He noted that other practice areas are “thriving and increasing in scope,” including renewable energy, cross-border M&A, China practice, litigation, and workouts / bankruptcy.

However, recession is not the only reason for the layoffs. Thelen Reid merged with Brown Raysman at the end of 2006, which produced some consolidation.  “It was a year of building, coordinating, and consolidating. We wanted to understand how best to organize this new entity,” Mr Brown said. Now that the firm has a better understanding of its staffing needs, and is in the process of consolidating multiple offices in the same cities (e.g., New York), it is reducing staff redundancies.

Full post as published by Lawyer Marketing Blog on April 15, 2008 (boomark / email).