Choate Hall Chops 15 Attorneys, 23 Staff

Law360, New York (January 26, 2009, 12:00 AM EST) -- Despite having its second-best financial year ever in 2008, Choate Hall & Stewart LLP has handed pink slips to 15 lawyers and 23 nonlegal staff, or roughly 8 percent of the organization.

In a firmwide memo sent out Friday, co-managing partners William Gelnaw and John Nadas said the layoffs were necessary because of unprecedented deterioration in the financial markets.

“These conditions have affected our clients and we anticipate that they may affect our work levels this year,” the memo said. “We currently have too many lawyers...
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