Hughes Hubbard & Reed—an AmLaw 200 firm that received a multimillion-dollar paycheck protection loan from the Small Business Administration—has laid off an undisclosed number of its attorneys and staff, according to firm statements Tuesday.
The New York-based firm confirmed the layoffs to Above the Law, which reported that associates were affected. The firm said in a separate statement to Law.com that the PPP loan money was used for its intended purpose, “to save jobs during the worst of the crisis.” But now more than three months later, the firm said, it felt the “deep impact” from court closures and a slowdown in deal activity, and the firm made “difficult decisions on staffing to address the current environment.”
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