Squire, Sanders & Dempsey has joined the list of law firms thinning their attorney ranks.
A higher than usual number of associates are being asked to leave following the annual associate review process, the firm confirmed in a statement on Thursday.
Altogether, 30 associates and paralegals have been advised that they should "explore career opportunities elsewhere." It was not immediately clear how many attorneys were among the 30 people asked to leave, though the firm specified that three of the departing associates are from the Phoenix office. The firm declined to comment beyond the statement.
"Admittedly, current and projected business conditions influenced the timing of these decisions," according to the firm's statement. "Like all firms, we are forced to align our resource capabilities with project client service levels and make some hard personnel decisions."
Squire Sanders said it is working closely with employees asked to leave and is giving them "support and assistance."
The firm is hardly the only one to reduce its workforce in recent months, as the economy has been in a downward spiral. Economists are predicting that 2009 will be a difficult financial time. Many firms have characterized their cuts as layoffs tied to the economy, while others have been tougher than usual in associate reviews and are trimming personnel through that process.
Squire Sanders seemed poised to take advantage of the recent economic turmoil. It was one of two firms awarded contracts from the U.S. Treasury Department to assist the agency in administering the $700 billion bailout package. That contract, worth about $5.5 million, was awarded earlier this month. The firm also has been in merger talks with Chicago-based Seyfarth Shaw.
News of the Squire Sanders downsizing was first reported on the legal gossip blog Above the Law.
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Squire Sanders Asks 30 Associates, Paralegals to 'Explore Opportunities Elsewhere'
The National Law Journal
November 21, 2008
