More Attorney Layoffs in Chicago

10-21-08

Founded in 1914, Jenner & Block performs corporate transactions and major litigation. The firm is admired for its results from trial level through the United States Supreme Court. Jenner & Block consistently ranks in the top 10 pro-bono firms in the country, according to The American Lawyer. The firm has three offices; the other two are located in Washington, DC, and New York City, and employees approximately 500 attorneys, according to their website, until today.

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This morning, Jenner & Block announced their decision to relieve 10 partners of their job duties, asking them to step down. However, according to sources, in a meeting earlier this month, partners and associates alike were told the firm’s outlook was sunshine and rainbows, to ignore the negative news happening in other legal markets, and focus on achieving higher profits and revenues. The layoff includes both equity and non-equity partners and according to managing partner Susan Levy, the move does not affect associates. She said, "In this economy, all well-managed law firms, including Jenner & Block, must assess operations, staffing and expenses on a continuing basis and Jenner & Block is making selected staffing changes to better align our expertise and services with the current and anticipated client needs, just as we have in the past few years," Levy said in a statement. "In this economy, we have to be particularly vigilant and are taking a hard look at every area of expense." Levy, the firm's managing partner since June of this year, reiterated the message from the meeting a few weeks ago, saying she expects the firm to have higher revenue and profit this year than in 2007.

The National Law Review reports that, "No particular practice area is more affected than others. The departures equate to about 6 percent of Jenner's 155 equity partner headcount and 2 percent of the overall 490 lawyer headcount". And although Jenner & Block has decreased the number of attorney positions the last two years to cut expenses and improve efficiency, the current economic climate arouses a different feeling in remaining attorneys at all three offices about the latest layoffs…worry. Letting partners go does not increase job security for associates, so professionals in all three offices are sure to feel unstable.

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Last week, the Chicago area saw law firm layoffs in several well-known firms, such as Katten Muchin Rosenman and Sonnenschein Nath & Rosenthal. Each firm laid off more than 20 attorneys each. The Windy City's legal community has been hard hit by the country's sagging economy and the Jenner & Block layoff news is simply the latest. Other hard hit areas include New York City and Washington, DC, recently joined the mix as well.

In our slippery economy and chaotic financial environment, law firm layoffs will continue to grace the pages of our news.