Layoffs
Am Regulation 200 agency cuts attorneys and staffers because it appears at cost-cutting measures
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Procopio, Cory, Hargreaves & Savitch confirmed Monday that it has laid off attorneys and workers members.
“After canvassing the agency, as we do yearly at the moment, the discount in pressure resulted within the lack of solely 3% of attorneys and workers,” the legislation agency stated in statements to Law.com and Law360. “Our litigation associated groups are very busy with a backlog of instances from COVID, and the transactional facet is anticipating a modest decline. Fortunately, our price proposition has traditionally held us regular even in robust financial instances.”
Above the Regulation broke the news Monday and revealed the interior electronic mail with the announcement.
“According to lots of our peer companies, 2022 was not Procopio’s finest yr,” the interior electronic mail stated. “Most specialists see ‘financial headwinds’ throughout 2023.”
The interior electronic mail stated administration has been cost-cutting measures and is “implementing accounts receivable and observe administration insurance policies mandating finest practices.”
The agency additionally made the troublesome determination to “let go a number of attorneys and workers,” the interior memo stated.
Procopio is No. 194 within the Am Regulation 200 rating of companies by gross income.
Different legislation companies which have lower attorneys and workers members embrace Shearman & Sterling, Stroock & Stroock & Lavan, Goodwin Procter and Cooley. And Davis Wright Tremaine has lower workers members.
