Allen & Overy Makes 9% Layoffs Across The Board

Law360, New York (February 19, 2009, 12:00 AM EST) -- In another depressing day for law firms, Allen & Overy LLP disclosed Thursday that it would reduce its partner head count, its associate head count and its support staff by roughly 9 percent each.

Overall, 47 partners, about 200 associates and other fee earners, and about 200 staff members, half of which are based in London, will be handed pink slips, according to the Magic Circle firm.

Meanwhile, 35 more partners will be subject to equity adjustments, and pay will be frozen for all staff globally....
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.