London firm Ashurst is in the process of expelling 10 partners, seven in London and three international. The firm had approximately 130 partners prior to the action. The firm seemed to have been doing well, with six-month revenues at November up 7.5% YOY. Ashursts meets our arbitrary criteria for the Layoff Tracker, so it’s been included (because they’re big and we’ve been on the other side from them).
The Lawyer also reports that a firm we’ve never heard of, Addleshaw Goddard, has cut loose 19 partners. That didn’t make the cut, but as always, we’re willing to change our minds. Does Addleshaws count as BigLaw?
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It's scary times for corporate attorneys, but lots of possibilities exist for those willing to take chances.