Mayer Brown cuts 75 US jobs in new round of layoffs
Mayer Brown has laid off 28 associates and counsel and 47 members of staff from its US offices, reports The Am Law Daily. This is the firm's third round of job cuts in around 18 months. The firm let go of 33 associates and counsel in November 2008 and laid off 45 more lawyers last April. The announcement was contained in an internal memo, which states: "Although most of our practices are performing well, overall demand for legal services has not recovered fully, and in today's tight legal job market, voluntary lawyer departures have been significantly lower than our normal levels.
April 09, 2010 at 04:48 AM
2 minute read
Mayer Brown has laid off 28 associates and counsel and 47 members of staff from its US offices, reports The Am Law Daily.
This is the firm's third round of job cuts in around 18 months. The firm let go of 33 associates and counsel in November 2008 and laid off 45 more lawyers last April.
The announcement was contained in an internal memo, which stated: "Although most of our practices are performing well, overall demand for legal services has not recovered fully, and in today's tight legal job market, voluntary lawyer departures have been significantly lower than our normal levels.
"Prudent management requires that we align firmwide personnel levels with current and anticipated demand for legal services.
"Despite this necessary action, we see encouraging signs for 2010. Thus far, the year is off to a positive start. Taking this step will enable us to maintain our financial strength and continue investing in our practices, our global platform and the professional development of our people".
Mayer Brown declined to comment further.
The firm's recently released financial results revealed that revenues fell by almost 14% in 2009, as the firm's top line slipped to $1.12bn (£723m) from $1.29bn (£833m).
Mayer Brown's London office also saw a double-digit decline in revenues, with turnover falling by 16% to £93.8m from £111.6m in 2008.
In November last year Mayer Brown promoted 14 associates to its partnership, with the firm's London base gaining one new partner.
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