Layoffs at White & Case

11/13/08

White & Case spokesman Nicholas Clarke says the layoffs will include around 90 staffers and 70 associates. The layoffs were first reported by a tipster to law blog, Above the Law. The toll may seem small in comparison to other layoffs in the news, but it adds to the rising number of layoffs within the legal community.


The firm has offices around the United States, including Los Angeles, New York, Miami, and Washington, D.C., Palo Alto, CA and a London office, as well. Cuts will affect all offices.

White & Case said the firm still expects a strong 2008 and significant revenue growth. However, based on a projected weak global economy in 2009, the firm is ''exercising prudent business judgment,'' according to the statement.

White & Case chairman Hugh Verrier said, ''"We are living in a time of unique economic challenges, and well-managed, successful businesses, including White & Case, must assess their operations in light of current market realities. We believe this is a necessary step to adjust to the global economic downturn and to ensure a strong, long-term future for the Firm."

In 2007, White & Case profits per partner were $1.67 million and the firm posted $1.373 billion in gross revenue.

According to Clarke, severance pay is ''competitive.'' Above the Law reports that the severance package is 12 weeks pay, plus all accrued vacation time. Clarke wouldn't provide further detail.

Just last month, White & Case shut down its Milan and Dresden outposts and affected about 20 lawyers. The firm has retained consulting firm McKinsey & Co. to conduct reviews of its global business operations.

Here's the White & Case full statement regarding the latest layoffs:

As part of its planning for 2009, White & Case LLP is reviewing its global operations against current and anticipated market conditions and expected client needs. While the Firm anticipates a strong 2008, with significant revenue growth across our globally diverse network, we are exercising prudent business judgment and taking several steps in advance of what is likely to be a significantly weakened global economy in 2009.

Among these actions, the Firm is reducing its global legal and non-legal headcount by about 3% from current levels, or notifying employees that they are at risk of redundancy. These reductions are being driven in large part by a decline in attrition rates. Those who have been asked to leave will receive a competitive severance package.

''We are living in a time of unique economic challenges, and well-managed, successful businesses, including White & Case, must assess their operations in light of current market realities,'' said White & Case chairman Hugh Verrier. ''We believe this is a necessary step to adjust to the global economic downturn and to ensure a strong, long-term future for the Firm.''