Weil Gotshal Cuts Lawyers, Pay Citing Less Demand for Services

, New York Law Journal

   |2 Comments

Citing a drop in demand for premium legal services that he called the "new normal," Weil Gotshal & Manges executive partner Barry Wolf announced Monday that the firm is trimming associate head count by 7 percent, laying off 110 non-lawyer employees, and cutting the compensation of about 10 percent of its 334 partners.

This article has been archived, and is no longer available on this website.

View this content exclusively through LexisNexis® Here

Not a LexisNexis® Subscriber?

Subscribe Now

Why am I seeing this?

LexisNexis® is now the exclusive third party online distributor of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® customers will be able to access and use ALM's content by subscribing to the LexisNexis® services via lexis.com® and Nexis®. This includes content from The National Law Journal®, The American Lawyer®, Law Technology News®, The New York Law Journal® and Corporate Counsel®, as well as ALM's other newspapers, directories, legal treatises, published and unpublished court opinions, and other sources of legal information.

ALM's content plays a significant role in your work and research, and now through this alliance LexisNexis® will bring you access to an even more comprehensive collection of legal content.

For questions call 1-877-256-2472 or contact us at customercare@alm.com

What's being said

  • Guest

    Anyone know how many associates in NY were severed?

  • W. ADAM MANDELBAUM

    Maybe the market for premium "priced" legal services is shrinking as clients realize that small firms and solos can do much of that work at a much more reasonable price, and at a greater efficiency than these overstaffed, overpopulated, overpriced firms. It's about time.

Comments are not moderated. To report offensive comments, click here.

Preparing comment abuse report for Article# 1202608239077

Thank you!

This article's comments will be reviewed.