Foley & Lardner is cutting 39 lawyers across its 21 offices and the firm’s chief executive is not trying to sugarcoat things.
“We have never seen such a downturn ever in demand in the legal services industry,” Foley’s Ralf-Reinhard Boer told the ABA Journal.
Above The Law cited a tipster on Friday who said the layoffs were coming and likely to hit the IP group hard.
Foley has spent the last five years expanding, adding eight offices and hundreds of attorneys, the Journal notes.
So we guess the upshot is they are not laying off hundreds of attorneys or closing any offices.
Perhaps the smaller and mid-market firms using the downturn do a little expanding of their own can pick up some of Foley’s now-redundant talent.
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