Loading...
Kirkland & Ellis, the Chicago-founded law firm, has let go of some of its associates across its California, Texas, Chicago, and Salt Lake City offices. The firm conducted its mid-year performance reviews last week, following which an unknown number of associates were laid off.
Sources familiar with the situation reported the development. However, a spokesperson for Kirkland stated that these were performance-based decisions resulting directly from the attorney review process and not layoffs.
The firm is known for its private equity work, and its clients include Blackstone Inc. and Bain Capital Credit LP. In 2022, the firm brought in $6 billion in gross revenue. The decision to cut associate ranks follows a hiring craze for associate talent in 2021 driven by a boom in transactional work. Cooley had laid off 150 associates and staff across its US offices late last year. Goodwin Procter had also laid off associates, paralegals, and other professional staff across its offices amid a slowdown in legal work in January.
The cuts come as Kirkland is set to welcome new associates later this year, with roughly 425 first-year associates starting at the firm across its 11 US offices in the fall. According to a Kirkland associate, associates who were included in the cuts will receive full salary and benefits and remain on the firm’s website until July 31st.
Get noticed by top law firms and sign up for LawCrossing now.
This is not the first time Kirkland has laid off associates following performance reviews. The firm had done so last year as well. A Kirkland associate who was laid off expressed frustration at what looks like reckless overhiring.
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!!
The legal industry has been hit hard by the COVID-19 pandemic, leading to a slowdown in legal work. Many big law firms have trimmed their junior ranks as a result. While the pandemic has significantly impacted the legal industry, the shift towards remote work and the use of technology in the industry is likely to continue. Law firms must adapt to these changes and find ways to remain competitive while providing quality legal services.
