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New York firm Kramer Levin Naftalis & Frankel has become the latest US firm to announce it is making layoffs.
In an email sent to the firm this afternoon and first published on US legal blog Abovethelaw.com, managing partner Paul Pearlman confirmed that Kramer Levin would be making 18 lawyers and 21 support staff redundant.
Pearlman said that while the firm’s performance in 2008 had been “relatively strong”, the firm had “felt the impact” of the current economic conditions.
“Consequently, after careful consideration, we regretfully concluded that it was necessary to better align our resources with the current and anticipated demand for our services,” added Pearlman. “As a result, 18 attorneys and 21 staff have recently been asked to leave the firm.”
Kramer Levin has offices in New York and Paris. The firm did not return calls for comment.