Proskauer Rose has become the latest US firm to announce layoffs, shedding 35 associates and 25 support staff.
A statement released by the firm said: “We are taking these actions in response to the worldwide economic crisis, as well as an unprecedented reduction in our historical lawyer attrition rate, which requires that we align our staffing with the current and projected levels of activity on behalf of our clients.”
The statement added that those affected will receive a severance package, 2008 year-end bonuses, healthcare benefits and outplacement services until the end of this year.
The move comes after the US firm has made significant strides in developing its international network.
Earlier this year The Lawyer reported on the firm launching in Beijing and Hong Kong with a trio of partners from Heller Ehrman (9 September ).