Summary: A New Jersey firm may be forced to lay off close to 300 employees, due to reports that it will not be able to afford to continue its operations.
According to NJ.com, hundreds of employees may end up jobless if a planned closure of a law firm in Union County goes forward.
In 2013, many large firms suffered layoffs.
Zucker, Goldberg & Ackerman LLC recently filed a WARN notice with the state’s Department of Labor and Workforce Development office, stating that 289 employees may be out of work. WARN (Worker Adjustment and Retraining Notification Act) requires companies that plan mass layoffs or closings must give notice of the same.
Layoffs at Kasowitz, Torres, Benson & Friedman were announced earlier this year.
The firm focuses on bankruptcy and eviction, and has stated that it is not making enough money to continue its business. The firm also deals with creditor protection against foreclosure, according to NJBiz.com. NJBiz.com further adds that the firm cited “current and anticipated profitability insufficient to sustain current operations” in its WARN notice.
Layoffs have hit law schools as well, such as Western Michigan University Cooley Law School.
According to Patch, the firm, which is located in Mountainside, New Jersey, may close as soon as August 24. The firm did not, however, specify which jobs may be lost in the closing.
Source: NJ.com
Photo credit: NJ.com