Jenner & Block, following in the footsteps of other firms in town, recently notified some partners that they should prepare to leave the firm, according to sources familiar with the layoffs.
The Chicago-based firm is asking about 10 partners, both equity and nonequity, to exit, with the bulk of those affected currently working out of the firm's biggest office in Chicago, the sources said. No particular practice area is more affected than others. The departures equate to about 6 percent of Jenner's 155 equity partner headcount and 2 percent of the overall 490 lawyer headcount. The firm declined comment.
"In this economy, all well-managed law firms, including Jenner & Block, must assess operations, staffing and expenses on a continuing basis and Jenner & Block is making selected staffing changes to better align our expertise and services with the current and anticipated client needs, just as we have in the past few years," managing partner Susan Levy said in a statement issued by the firm. "In this economy, we have to be particularly vigilant and are taking a hard look at every area of expense."
Associates and legal staff aren't affected by the layoffs, she said.
The larger Chicago firms Katten Muchin Rosenman and Sonnenschein Nath & Rosenthal earlier this month also asked some attorneys to exit with Sonnenschein laying off about 25 attorneys and a larger number of support staff and Katten cutting 21 associates and of counsel lawyers.
Firms across the country are looking to shore up their finances at a time when some practice areas, such as real estate and capital markets, are seeing a decline in client demand and they're looking to avoid the fate of Heller Ehrman, which was forced to dissolve last month.
Jenner & Block has eliminated attorney positions in past years too, asking about 10 to leave last year and about 20 the prior year.
Levy, a commercial litigator who became the firm's managing partner in June, reiterated that she expects the firm to have higher revenue and profit this year than in 2007. She gave that message to the firm's lawyers in meetings several weeks ago in an effort to ease concerns they might as a result of bad news happening elsewhere, she said at the time.
The firm has offices in three cities, including Washington and New York.
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