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Though the law firm Paton Boggs has not yet confirmed any news of laying off lawyers, there are rumors circulating in the market of the firm aiming to downsize significantly. Reuters reported on March 1, that according to their sources, the Washington DC law firm, Patton Boggs has already laid off a number of lawyers though exact numbers are yet unknown.
Patton Boggs is expected to have a firm-wide meeting on Friday to discuss the situation. Currently the law firm has more than 550 attorneys in nine offices across the world. The meeting would be held through audio-video conferencing.
One partner told Reuters, “I think the firm is just right-sizing,” and that there were no financial problems that were visible. However, the same partner has added that the layoffs could also extend to other departments and divisions of the law firm though they have started with the litigation department. The offices, which seem to be directly in the line of fire are New Jersey, New York, and Washington and productivity of lawyers is being taken into account for retention decisions.
Though the numbers are yet unknown, the layoffs are expected to be across all ranks including partners, associates and administrative staff. Reuters reported from their sources both inside and outside the law firm that some administrative staff has already been laid off.
A spokesman for Patton Boggs said that he had nothing formal to announce at this point of time and would share the information when the firm so decides.
Even though the market for legal services seems going stagnant, there has been pockets of growth across the country, but right-sizing seems to be continuing in many law firms.
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