Latham to cut 440 staff; 15 jobs to go in London
Twelve to fifteen jobs are under review in Latham & Watkins' London office as part of a widespread package of cuts announced by the firm today (27 February).Latham confirmed to The Am Law Daily that it is laying off 190 associates, which equates to approximately 12% of the firm's associate base. The firm has also announced cuts of 250 non-legal staff, including paralegals. The announced layoffs are the most dramatic cuts announced so far by a leading US firm.After mounting speculation, firm chairman Robert Dell this morning confirmed that the firm had little choice given the current economic climate. "It is with profound regret that we are taking this action," he said before adding that the depth of this recession was unprecedented. "The health of the global economy is likely to remain poor this year, and so staffing levels have to be better aligned with client needs," he added. Latham's 550-strong partnership will be unaffected by the cuts with Dell adding that "current and future client demand would likely require less leverage."
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