Latham Offers Huge Severance Package
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)

Last week we reported that Latham & Watkins had cut 440 employees — 190 associates and 250 staff, the largest cuts to date by a US-based firm.

This morning The Recorder discusses the massive severance package Latham is giving those who lost their jobs — twice the size of other firms’ compensation.

The package, offered to 190 associates as well as 250 staffers, is twice the average of other firms, which have typically provided lawyers three months of severance. Industry observers said that, until Friday, the standard had been two to four months, with some firms providing no severance but three months’ notice.


The associates’ severance will cost the firm $15 million to $19 million, roughly 1 percent of 2008 revenue.

Consultants and recruiters say the generous packages should help Latham recruit talent when the economy turns around.

But some worried that the size of the layoff — 12 percent of its associates — sent a more disturbing message about Latham’s outlook on the economy and could hamper its workforce for several years.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!

Via The Recorder.



Associate Attorney

USA-TX-San Antonio

Associate Attorney: Elder Law Job Opportunity Details We are seeking a full-time associate att...

Apply now

Associate Attorney


Lemery Greisler LLC, a Capital Region business law firm, with offices in Albany and Saratoga Springs...

Apply now

Associate Attorney


A boutique law firm providing tax-controversy and litigation services is seeking a tax controversy a...

Apply now

Customer Service Representative


Pay rate: $16.50/hr Martindale-Avvo is looking for Intake Representatives to join our growing tea...

Apply now




Search Now

Venture Capital Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks corporate business attorney with...

Apply Now

Real Estate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks transactional real estate attorn...

Apply Now

Experienced Health Care Attorney


Portland office of a BCG Attorney Search Top Ranked Law Firm is seeking health care attorney with 5-...

Apply Now


To Top