Thank you for sharing!

Your article was successfully shared with the contacts you provided.
In a possible sign of cost cutting to come at law firms, Lowndes, Drosdick, Doster, Kantor & Reed in Orlando has let go of seven attorneys, including five partners. Managing partner Nick Pope says the firm, which grew from 65 to 110 lawyers in the last year, made the move “as a preventative measure” in a softening economy. “When you grow that rapidly, you have inefficiencies in the way you operate,” says Pope. “We are seeing a slowdown in the economy. As a group, even law firms have to act like businesses.” Pope says the lawyers, whom he declined to name, were given severance packages “that should make them comfortable for a while.” Law firms in San Francisco and New York have dismissed lawyers, but no major firms in Florida have reported layoffs so far. However, with the declining economy, law firms specializing in real estate and corporate deal-making are expected to face an economic squeeze. More than half of Lowndes’ business is real estate, says Pope. The attorneys let go practiced in the areas of real estate and litigation. One lawyer, according to a source who did not want to be identified, was a lawyer focusing on construction law who had been with the firm 20 years. But Pope says his firm continues to hire lawyers in other practice areas and has no plans to close either of the firm’s two offices in Orlando. Biff Marshall, managing partner of Gray Harris, an Orlando-based firm that recently hired three other Lowndes partners, attributes the layoffs to a softening in the Orlando real estate market.

This content has been archived.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Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.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.