Biglaw

Top 50 Am Law Firm Announces Reduction In Force, Will Cut 6% Of Global Workforce

The firm is also deferring its incoming associates.

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Man holding cardboardLayoffs and deferrals within Biglaw are far from over.

The leaders of Orrick — a firm that brought in $1,379,702,000 gross revenue in 2022, putting it at No. 32 on the most recent Am Law 100 ranking — just announced a global reduction in force. It seems that about 6% of the firm’s workforce, including attorneys and staff members, will be let go.

When reached for comment, a spokesperson from Orrick offered this statement on the firm’s behalf:

“The action is a response to a convergence of market forces: reduced client demand in some areas related to market uncertainty and the impact of technology, data and the evolving workplace on the type of support we need to serve our clients and operate our firm.

Affected colleagues have contributed meaningfully to our firm — this is not a reflection on any individual — and we will support them with a transition package.”

As noted by the American Lawyer, it’s estimated that the firm’s cuts will affect about 40 associates and 50 staff members, with a greater impact on the firm’s corporate transactional teams. Orrick will be offering a benefits package to those impacted, including salary, COBRA reimbursement, outplacement services, and wellness resources. “We believe this action is the most fair and transparent way to advance our strategy and ensure we have ample work opportunities for our team,” Orrick’s spokesperson said.

On top of today’s reduction in force, the firm is also deferring its incoming associate class to January 16, 2024. Orrick is now the fourth firm to delay the start date for its entry-level associates. Affected first-years will receive a stipend of $15,000, as well as an additional stipend to purchase health insurance and early access to the firm’s wellness resources.

Best of luck to those who are being let go or deferred from Orrick.

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If your firm or organization is reducing the ranks of its lawyers or staff, whether through deferrals, open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477). Thank you for your assistance.

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Staci ZaretskyStaci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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