Cooley lays off 114 as cutbacks continue
US firm Cooley Godward Kronish has axed 52 lawyers and 62 staff, reports The Recorder. The 725-lawyer firm has laid off associates, including some who had just started at the firm in the autumn, and three special counsel. The practice areas most affected by the layoffs are among those being hardest hit in the economic downturn - corporate, transactional and public securities. In a firmwide memo sent out on Wednesday (21 January) Cooley CEO Joseph Conroy said: "Given the continued slowdown we have experienced in pockets of the firm over the last five months and the forecast for continuing global economic turmoil in 2009, the executive and management committees have concluded that a reduction is necessary at this time," The firm joins a growing list of US firms to lay off lawyers. Orrick Herrington & Sutcliffe cut 40 lawyers in November, while in November, White & Case laid off 70 associates.
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