March 4, 2009

Orrick laying off 300 more

Following its first-ever layoffs four months ago, Orrick Herrington & Sutcliffe LLP has begun a second, deeper round of cuts.

The San Francisco-based law firm is laying off approximately 100 lawyers and 200 staff workers from its 21 offices in the United States, Asia and Europe. That is equal to 12 percent of its legal ranks and 14 percent of staffers.

The lawyer layoffs affected associates, who are more junior, salaried attorneys. No partners were laid off.

Source: San Francisco Business Times.

February 6, 2009

One Lawyer Layoff Saves an Average of $250K

Filed under: FYI,US — 7macaw @ 3:55 pm
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Attorney layoffs have become industry standard in recent months, with at least 50 of the nation’s top law firms ushering practitioners out their doors and into a torpid job market. Law firm leaders and industry consultants say a firm cuts costs by an average of $250,000 for each attorney let go. For each legal assistant or other staffer laid off, a law firm saves about $100,000.

For most big law firms, about 85% of their budget goes to rent and personnel costs, say firm leaders, which means that the money saved by scaling back on copies, car services, partner retreats and marketing comes from a small percentage of their revenue.

Source: The National Law Journal

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