Frisco’s Morrison & Foerster is downsizing. A memo was sent out today:
Morrison & Foerster has reduced its legal and non-legal staffing in its U.S. offices to align our firm with client needs in this extraordinary economic downturn. We notified 53 attorneys and 148 staff of the termination of their employment. These decisions are exceedingly painful, but necessary to assure that we address the current economic challenge from a position of financial conservatism and strength. Notwithstanding the difficult steps we are taking today, the state of the firm is strong and we are confident about our future. Our deep bench of legal talent, geographic and practice diversity and healthy balance sheet continue to serve us well and enable the firm to compete effectively. We remain committed to serving our clients efficiently while investing strategically in the development of the firm.
Those affected are eligible for severance pay and health care benefits. We deeply appreciate the dedicated and valuable contributions these individuals have brought to our clients and the Firm.
Morrison & Foerster LLP has more than 1,000 lawyers in 19 offices in the US and East Asia. The firm was founded in San Francisco in 1883. Its lawyers have experience in a wide range of areas, including corporate, finance and financial services, life sciences and technology, land use and environmental law, litigation, and mergers and acquisitions.