Arent Fox let 13 associates and 15 staffers go today, according to a firmwide e-mail authored by Arent Fox’s managing partner William Charyk.
Here is a copy of Charyk’s e-mail:
By now, you have likely learned that today the Firm took certain actions designed to preserve the long-term financial strength of Arent Fox LLP. These actions, which consisted of a reduction in the Firm’s legal and non-legal headcount, were taken after a lengthy and careful deliberation by the Firm’s leadership as we seek to deal with the most challenging economic climate for law firms any of us have faced in our professional lives.
During the early months of 2009, the adverse effects of the global economic downturn have continued to ripple through virtually every industry and business, including the legal profession. The sobering economic forecasts have forced many law firms -- now including Arent Fox -- to undertake a comprehensive and careful re-evaluation of market conditions and business structures, including actual and projected demand for services by clients in the coming year. After careful analysis and consideration following this review, we have made the difficult decision to downsize our associate, legal support and administrative ranks, resulting in the reduction of 13 associates and 15 staff members. These reductions will impact each of the Firm’s three offices.
All of the individual associates and staff members affected by the Firm’s decision have been notified and given the assurance that the Firm will offer severance benefits and other transitional support as they pursue new employment opportunities.
Today is a day our Firm had fervently hoped to avoid. Each attorney and staff member affected by this decision has been a valued and talented member of Arent Fox. Our Firm is, however, convinced that we have taken the necessary and appropriate steps to ensure the continued long-term financial health of Arent Fox during these unprecedented economic times. Most importantly, we strongly believe our actions will enable us to continue to deliver outstanding service and results to clients – who are also facing unique economic challenges – in the most effective and cost-efficient manner available.