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: Law Blog - WSJ.com

2.12.09: The Darkest Day Ever for Big Law Firms?

By Ashby Jones

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pinkslipWe don’t know if we’re quite ready to answer the above question in the affirmative, but we’re getting close. What a day. The folks over at Above the Law have done yeoman’s work tallying up the damage. (That is, so far. The day ain’t even over.)

The day’s wreckage:

  • DLA Piper announced it was laying off 80 lawyers and 100 staff members in the U.S.
  • Goodwin Procter announced it was cutting 36 lawyers and 38 staff members
  • Dechert cut 19 lawyers
  • Faegre & Benson (yesterday) axed 29 lawyers

Rumors swirl around a number of others, too.

Update: The Law Blog learned independently that Holland & Knight has fired 70 lawyers and 173 staff. “Today, we began restructuring our operations to better meet the needs of our clients and to take steps to fully respond to the adverse effects of the current economic downturn,” the firm said in a statement.

Photo: iStockPhoto

Full post as published by Law Blog - WSJ.com on February 12, 2009 (boomark / email).

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