Weil Gotshal cuts 79 US support jobs
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Weil Gotshal & Manges has laid off 79 support staff across its US offices due to the pressures of the economic downturn.
Firm chairman Stephen Dannhauser sent a firmwide email last Friday (29 May) informing employees of the cuts.
Dannhauser said: “The firm’s management genuinely regrets the need for this action, but has determined that it’s vital to our continued efforts to increase efficiency and competitiveness of our organisation in a rapidly evolving business climate.”
Dannhauser added that the affected staff will be provided with severance packages including transitional income and benefits although no detail has been provided on the specific package provided.
Weil’s management has not yet made cuts in the international offices, although a source at the firm said further cuts are being considered.
Dannhauser said: “Notwithstanding the balanced nature of our practice, we’re not immune to the larger long-term forces shaping the industry or the economy at large.”
Readers' comments (3)
Anonymous | 5-Jun-2009 2:47 pm
As a former staffer at Weil, I feel sorry for some of the people who will be cut. The ones who keep their jobs are not necessarily the most competent, just the best at schmoozing the decision-makers. Maybe they should look again at those getting pink-slips and examine the quality of their work?
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Anonymous | 7-Jun-2009 7:05 am
I had been an attorney of one of Weil's overseas offices for years and was fired recently...
In some sense, I agree on what was said above.
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Anonymous | 9-Jun-2009 1:10 pm
Being a staffer at another competing big law firm, it is sad to hear how the big international firms are feeling the pinch and reacting to market trends. Operation of a firm takes many hands and cutting off your fingers one by one will leave law firms crippled for many years beyond the recessional period. Seasoned employees more than likely have gained and provide exceptional client service due to their work experience - experience far beyond anything these firms who are doing mass layoffs are going to find when they need to hire personnel in the hopeful near future. Training time uses up valuable firm resources and it will likely be just as costly in the end if they had kept some of the higher salaried but more experienced and valued staffers. This is certainly a remarkable and historic time in our country's history. Everyone should be taking note and learning from it and those who complain about little daily gripes should be thankful they have a place of eployment to lodge such gripes.
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