Occasions Might Even be good proper now, however Biglaw and boutique corporations alike are gearing up for a potential recession, leaving associates and staff members wanting over their shoulders for the evil That Can be mendacity in Await them: layoffs. We first sounded the alarm on layoffs again in April, with continued safety Inside the weeks that adopted. Now, simply two months later, our predictions have come to move.
Redgrave — Definitely one of many largest information governance and eDiscovery boutique corporations Inside The sport — was As a Outcome of of merge with Am Regulation 100 agency Nelson Mullins in late 2020, However the tie-up was referred to as off in early 2021 As a Outcome of of shopper conflicts. Now, Redgrave finds itself in A great worse state of affairs.
In a memo despatched on June 9, managing halfner Jonathan Redgrave notified all personnel that As a Outcome of of a “substantial decrease in demand” — demand that the agency Does not see “returning to The identical diploma Inside the shut to future — the agency Can be “decreas[ing] [its] timekeeper staffing by round 10%.”
We certainly hope that this isn’t an indicator of what’s To return for the authorized profession, however We now haven’t even made it to the third quarter and We now have a law agency Shedding 10% of its workforce — and we’ve been informed that attorneys have been included On this unfortunate half of the agency’s staff.
In The complete memo (out there on The subsequent Website), Redgrave goes on to guarantee remaining staff That people Who’ve been laid off will acquire severance packages and assist To assist them navigate “by way of this transition.”
Redgrave LLP Did not immediately Reply to requests for remark. …….