In a move governed by financial needs, Bryan Cave Leighton Paisner (BCLP) – an Am Law 100 Biglaw Firm – has initiated its second round of layoffs in a year following a lackluster financial performance in 2023. This decision has directly affected roughly 50 roles in their US and UK offices, primarily taxing those in business services. (Above the Law)
The firm defended its actions through a spokesperson, stating, “Like many firms in recent months, we are conducting a small and targeted restructuring in selected areas of the firm to manage costs and shape our size and capabilities to practice demand.” Adding that the layoffs were a strategic move aimed at focusing and investing further in areas where client demand is highest.
According to a report by Law.com, BCLP’s revenue and revenue per lawyer both received a hit in 2023. Despite a slight increase in equity partner profits due to a 5.7% reduction in equity partners, BCLP witnessed a 0.6% decline in revenue at $840 million, and a 0.1% decline in revenue per lawyer. The total head count remained approximately the same with 1,185 full-time equivalent attorneys.
The firm had previously let go of 47 business professionals around ten months ago. We express our sympathies to those who are now without employment and wish them the best of luck for their future endeavors.
If your firm or organization is also downsizing its workforce — whether through outright layoffs, covert layoffs, or voluntary buyouts — you can email Above the Law or text them at 646-820-8477. Assist in keeping the legal community informed during this turbulent time.