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Chadbourne & Parke Lays Off 25 Associates and Counsel
The National Law Journal
March 10, 2009
New York-based Chadbourne & Parke let go of 25 attorneys on Tuesday, according to a spokesman for the law firm.
The cuts were made because of the economic downturn and will affect associates and counsel handling transactional work in its U.S. and overseas offices, according to the firm.
In addition, the law firm will delay the start date for its first-year associates until January 2010. It will pay those people a $13,000 "bar and expense" stipend, the spokesman said. The reductions will not affect Chadbourne & Parke's summer associate class, he said, adding that the firm does not expect additional layoffs. The spokesman declined to disclose the details of severance packages.
In October, Chadbourne & Parke implemented a hiring freeze, as reported on the legal blog Above the Law.
Before the layoffs, Chadbourne & Parke had about 480 attorneys in 13 offices, according to The NLJ 250, The National Law Journal's annual survey of the nation's largest law firms.
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