Weil Layoffs Show New Market Pressures Cut Deep

Law360, New York (June 27, 2013, 10:45 PM EDT) -- The layoffs that hit Weil Gotshal & Manges LLP this week didn't mark the first time the firm has shrunk in a post-recession period, according to an analysis of the firm’s financial history. But unlike in previous years, the firm's marquee bankruptcy practice is failing to buoy the firm's profit levels, despite an abundance of corporate crashes.

A review of Weil's annual revenues, head counts and profits shows that although Weil also lost lawyers following economic downturns in the early 1990s and 2000s, the firm largely...
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