Layoffs
BigLaw agency confirms ‘small quantity’ of layoffs, pushes again begin dates for some associates
In a press release supplied to the ABA Journal, Katten Muchin Rosenman mentioned many purchasers are going through a difficult atmosphere due to “quickly shifting financial circumstances.” Picture from Shutterstock.
Katten Muchin Rosenman has confirmed that it’s “parting methods with a small variety of our attorneys and enterprise help professionals.”
In a press release supplied to the ABA Journal, the regulation agency mentioned many purchasers are going through a difficult atmosphere due to “quickly shifting financial circumstances.” The end result has been a lower in demand for some authorized companies.
”After working by these circumstances for a while and a cautious overview of our enterprise, we made the troublesome choice to deal with this overcapacity,” the assertion mentioned. “The place attainable, we reassigned crew members to follow teams the place demand exceeds capability, and our reductions had been restricted to teams the place present and anticipated demand is diminished.”
The agency can also be deferring begin dates for a portion of the incoming affiliate class till Feb. 1. The others will begin as typical in October.
“Parting with gifted colleagues and good associates just isn’t simple,” the assertion mentioned. “Our actions usually are not a unfavourable reflection on our colleagues or their contributions to our agency. Moderately, the choice displays the fact of the enterprise atmosphere wherein we discover ourselves and our dedication to repeatedly present growth alternatives that permit our individuals to develop. Whereas troublesome, we imagine our choice will preserve the agency robust and properly ready to serve our purchasers and our individuals.”
Above the Law additionally had the information.
