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Foley & Lardner Cuts 39 LawyersFoley & Lardner is letting go of 39 lawyers throughout its 21 offices, according to the Milwaukee Journal Sentinel. Chairman Ralf-Reinhard Boer told the newspaper that decreased client demand for legal services was the reason for the layoffs. Milwaukee-based Foley has aggressively expanded in recent years, adding eight offices and hundreds of lawyers to become the nation's 24th-largest law firm, and Boer said the firm would continue to recruit at the partner level.
The American Lawyer2009-10-16 12:00:00 AM
Chairman Ralf-Reinhard Boer told the newspaper that a decreased demand from clients for legal services was the reason for the layoffs.
Above the Law first reported on cuts at the firm last week.
Milwaukee-based Foley has aggressively expanded in recent years, adding eight offices and hundreds of lawyers to become the nation's 24th-largest law firm.
Layoffs will be made proportionately throughout the firm's offices, Boer told the JS, but didn't say which practice groups would be affected.
Boer did say that Foley would continue to recruit at the partner level, specifically mentioning the firm's IP practice, which recently saw its former chair, Sharon Barner, leave to become deputy director of the U.S. Patent and Trademark Office.
In early October, former Baker & Hostetler bankruptcy chair Douglas Spelfogel joined Foley to help the firm expand its bankruptcy practice in New York.
According to the most recent Am Law 100 financial data, Foley had gross revenues of $731 million last year and profits per equity partner of $880,000.
This article first appeared on The Am Law Daily blog on AmericanLawyer.com.