West Virginia's Steptoe & Johnson Lays Off Energy Lawyers
The energy firm, not to be confused with the international firm of the same name, laid off 32 people, including 14 lawyers. Steptoe & Johnson blamed plummeting oil prices that have impacted numerous law firms to varying degrees.
April 02, 2015 at 02:13 PM
3 minute read
The original version of this story was published on The American Lawyer
Steptoe & Johnson PLLC, a regional firm with offices in West Virginia, Texas, Pennsylvania, Kentucky and Ohio, has made “limited layoffs” because of the recent steep drop in oil prices.
“Due to continued low oil prices and the negative impact on domestic oil and gas producers, we have seen a contraction in isolated areas of legal work for some of our major energy clients,” reads a statement by Steptoe & Johnson CEO and managing partner Susan Brewer, released on Thursday. “We will continue to monitor the impact of low prices.”
A firm spokesman declined to say how many people were affected, but the Charleston Daily Mail, which first reported the news on Wednesday, said 32 people, including 14 attorneys, were laid off. Meanwhile, the price of crude oil has been cut in half from an average of almost $108 last June to $54 in February.
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