The move, said New York Managing Partner Donald Kilpatrick, is “wholly an economic layoff,” unrelated to individual performance issues or redundancies stemming from the January merger between Pillsbury Madison & Sutro and Winthrop, Stimson, Putnam & Roberts.
“We thought coming out of the summer that the deal business and legal business, which had been in the doldrums for the better part of the year, was due for an uptick,” explained Kilpatrick. “But for Sept. 11,” he added, “that’s what would have happened.”
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