BigLaw firm cuts 11 lawyers, eliminates 24 staff positions following drop in partner profits
August 1, 2023, 8:55 am CDT
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Layoffs at Armstrong Teasdale have amounted to 6% of staff members and about 3% of lawyers. Image from Shutterstock.
Armstrong Teasdale has said it has made "difficult decisions" to eliminate the positions of 24 staff members and cut 11 lawyers.
The lawyers were let go after a “review of productivity and performance,” the law firm said in a statement provided to Law.com and Missouri Lawyers Media.
The staff positions were eliminated “to streamline the firm’s operational structure for better integration, improve efficiency in the provision of services, and ensure our ability to continue to exceed our clients’ expectations,” the statement said.
The layoffs amount to 6% of staff members and about 3% of lawyers.
The cuts follow a 14.4% decrease in profits per equity partner at the firm last year. At the time, managing partner Patrick Rasche told Law.com that the decline followed investments in the firm, including the hiring of new people, the opening of new offices and the upgrading of its systems.
The investments were planned, but they added to expenses, Rasche said.
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Originally posted on: https://www.abajournal.com/news/article/biglaw-firm-cuts-11-lawyers-eliminates-24-staff-positions-following-drop-in-partner-profits/?utm_source=feeds&utm_medium=rss&utm_campaign=site_rss_feeds