Biglaw Firm Kicks Off The New Year With A Round Of Layoffs

With the threat of decreased demand thanks to the economic turndown, Biglaw firms are trying to get in shape and right-size for the new year. Unfortunately, that means firms are shedding attorneys and staff through layoffs. We’ve already seen layoffs (both stealth and outright) hit some of the most successful law firms, like Kirkland, Gunderson, Cooley, and Goodwin. Today, we have the details on even more layoffs, and the news is not good.

Stroock & Stroock & Lavan — a firm that pulled in $274,000,000 gross revenue in 2021, landing it in 128th place on the Am Law 200 — has laid off laid off 27 employees in total, a combination of both attorneys (nine) and business professionals (18) as the firm readies itself for a drop in demand.

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The firm issued a brief statement on the matter, per the American Lawyer:

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“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,” the statement reads. “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.”

Through a spokesperson, the firm said that the layoffs on the attorney side were all “non-partners.”

Best of luck to those who are being let go from Stroock.

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If your firm or organization is reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).

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Stroock Latest Big Law Firm to Lay Off Staff, Attorneys [American Lawyer]

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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Biglaw, Layoffs, Stroock, Stroock & Stroock & Lavan