X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.
Cadwalader, Wickersham & Taft is laying off 35 attorneys due to what it calls “unexpected and persistent volatility” in financial markets sectors. The 721-attorney law firm based in New York announced Jan. 10 that the layoffs would affect “targeted personnel,” including 35 lawyers in its U.S. offices. A downturn in capital markets work is also forcing the firm to diversify practices and redeploy “certain persons” into other practice areas, the statement said. The layoffs at Cadwalader signal some of the most significant fallout at a law firm thus far from a downturn in capital markets legal work due to ramifications from the subprime mortgage collapse. In a statement released through the public relations firm, Hill & Knowlton, Cadwalader said that the layoffs would affect “some talented lawyers who have made significant contributions to the firm.” Cadwalader is fourth in terms of the profits per partner among the AmLaw 100 firms, The American Lawyer’s list of the nation’s highest grossing law firms. In 2006, its profits per partner equaled $2.9 million, 13.9% increase over the year before. The law firm has 463 attorneys in New York, 106 in Charlotte, N.C., 82 in Washington, 67 in London and three in Beijing. It is the 50th largest law firm, according to the NLJ 250, the annual survey of the nation’s largest law firms.

This content has been archived. It is available exclusively through our partner LexisNexis®.

To view this content, please continue to Lexis Advance®.

Not a Lexis Advance® Subscriber? Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via Lexis Advance®. This includes content from the National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at [email protected]

 
 

ALM Legal Publication Newsletters

Sign Up Today and Never Miss Another Story.

As part of your digital membership, you can sign up for an unlimited number of a wide range of complimentary newsletters. Visit your My Account page to make your selections. Get the timely legal news and critical analysis you cannot afford to miss. Tailored just for you. In your inbox. Every day.

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.