Dismal Economy Leads Orrick To Cut 40 Associates

Law360, New York (November 13, 2008, 12:00 AM EST) -- Orrick Herrington & Sutcliffe LLP has jettisoned around 40 associates and counsel in the firm's real estate, structured finance and corporate practices, citing “unprecedented challenges” in the world's global capital markets.

The firm announced the reduction on Thursday, acknowledging that some clients' recent budget cutbacks had led to overstaffing in those practice areas.

Orrick also said it laid off 35 staff members as part of its effort to trim the firm's headcount.

“We believe these actions are necessary to adapt to changes in the world economy...
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