Citing a drop in demand for premium legal services that he called the "new normal," Weil Gotshal & Manges executive partner Barry Wolf announced Monday that the firm is trimming associate head count by 7 percent, laying off 110 non-lawyer employees, and cutting the compensation of about 10 percent of its 334 partners.
In a speech to the partnership and in a firmwide memo distributed via email, Wolf also said Weil is scaling back its complex commercial litigation practice, a group that includes some 200 lawyers, with the Houston and Boston offices seeing the biggest cuts.
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