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Bonuses and raises may be trending among Biglaw firms, but news of layoffs is still sneaking in amid all the fanfare concerning compensation.
To that end, we’ve recently learned that Proskauer Rose — a firm that brought in $1,239,638,000 gross revenue in 2022, putting it at No. 39 in the Am Law 100 — cut ties with more than 20 members of its business professionals staff back in August. The American Lawyer has the details on the Biglaw firm’s layoffs.
Proskauer laid off 22 business professionals in August as part of a resolution of cost-cutting and redundancy issues, according to sources, noting that that’s about 3% of the firm’s business professional population. …
The law firm’s moves are consistent with a slew of large law firms making business professional cuts, often without any public announcement, as firms focused on efficiency, outsourcing and restructuring in the era of hybrid office arrangements.
Best of luck to those who have been let go from Proskauer.
If your firm or organization is reducing the ranks of its lawyers or staff, whether through deferrals, open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477). Thank you for your assistance.
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Proskauer Layoffs Underscore String of Big Law Cuts in 2023 [American Lawyer]
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter and Threads or connect with her on LinkedIn.
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