Citing slowdown, Stroock & Stroock & Lavan confirms layoffs
Layoffs
Citing slowdown, Stroock & Stroock & Lavan confirms layoffs
January 9, 2023, 10:47 am CST
Stroock & Stroock & Lavan has laid off nine lawyers and 18 staff members and business professionals.
Stroock gave Law.com this statement in a story published Monday: “Following a comprehensive review of each of our practice groups and the demand to be serviced by them in light of the current slowdown, we determined that we had more attorney and staff resources than we needed for the foreseeable future. Therefore, we decided to separate from nine attorneys and 18 staff/business professionals, with severance and other support being provided to help ease the transition. We wish our colleagues the best in their future endeavors.”
None of the lawyers laid off were partners, Stroock told Law.com, which was noted by Above the Law.
Several other law firms have also cited the downturn as the reason for layoffs.
In an internal memo Thursday, Goodwin Procter announced layoffs affecting 5% of its timekeepers and nonlawyer professionals.
On the last day of November, Cooley announced layoffs of 78 lawyers and 72 paralegals and business professionals.
Kirkland & Ellis trimmed attorneys in November but said the decision was related to their performance reviews, according to Law.com.
