05/22/09
According to Wally Martinez, the firm's managing partner, ''the decision did not come lightly and, while the firm remains financially strong, the layoffs were necessary in order to align the firm with client needs.'' The firm will meet with all affected staff members and associates and without providing details, Martinez points out that ''the severance package is competitive.''
Martinez notes that ''the lack of associate attrition was a catalyst'' in the firm's decision and explains that ''we conducted our own internal stress test. We're quite late getting to the layoff table, but the economic situation is a lot more prolonged and deeper than we had expected.''
In more lay-off news, Day Pitney announced it was cutting 20 attorneys in various locations including four in the Hartford, Conn. office, along with one attorney each from New Haven and West Hartford. In addition, Day Pitney laid off three Stamford based attorneys, six from Florham Park, N.J. and five from New York and Boston. The cuts affected
attorneys from various practices areas including corporate, litigation, energy, intellectual property, real estate, labor and employment, and trusts and estates.
This is the second round of lay-offs for Day Pitney. In February, the firm laid off 66 staff members and paralegals including 31 in Hartford, Conn. At the time, a spokesperson from the firm said that they were not expecting to lay off any attorney positions but in an internal memo circulated this week, it explained that ''unfortunately, the
demand for legal services has continued to decline, with the result that we have found ourselves with excess capacity.''
