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Latham & Watkins

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Latham has recently been in the news for its financial difficulties, prompting employee layoffs. Given Latham's heavy reliance on transactional work for its revenues, it saw major declines in 2008. In 2008, revenue fell by $100,000,000, approximately 4%. Profits per partner fell by 21%.

In March 2008, managing partner Bob Dell announced: "there will be no layoffs", and that it was not even on the table for discussion. However the falling revenue prompted management to freeze associate salaries in December 2008., and on February 27, 2009, Latham announced that it was laying off 190 associates, and 250 staff members.. This is one of the largest layoffs by a major law firm in history.. In the New York office, more than half the first year associates were laid off in February. A total of 130 New York associates, representing 45% of the office, were cut over January and February 2009.

Additionally, Latham reportedly made Vault surveys due on February 26, 2009, the day before the February 27, 2009 mass layoffs, in what some have criticized as an attempt to prevent layoffs from influencing their Vault ranking. This effort appears to have failed miserable, as LaTTTham's Vault ranking has dropped an unprecedented 10 spots from 7 to 17. http://abovethelaw.com/2009/08/official_new_vault_rankings.php?show=comments#comments



Layoffs

Latham has recently been in the news for its financial difficulties, prompting employee layoffs. Given Latham's heavy reliance on transactional work for its revenues, it saw major declines in 2008. In 2008, revenue fell by $100,000,000, approximately 4%. Profits per partner fell by 21%.

In March 2008, managing partner Bob Dell announced: "there will be no layoffs", and that it was not even on the table for discussion. However the falling revenue prompted management to freeze associate salaries in December 2008., and on February 27, 2009, Latham announced that it was laying off 190 associates, and 250 staff members.. This is one of the largest layoffs by a major law firm in history.. In the New York office, more than half the first year associates were laid off in February. A total of 130 New York associates, representing 45% of the office, were cut over January and February 2009.

Additionally, Latham reportedly made Vault surveys due on February 26, 2009, the day before the February 27, 2009 mass layoffs, in what some have criticized as an attempt to prevent layoffs from influencing their Vault ranking.

Notable clients and cases

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Notable Latham & Watkins attorneys

Offices

Latham currently has 1,900 attorneys throughout its offices in: Abu Dhabi, Barcelona, Brussels, Chicago, Dubai, Doha, Frankfurt, Hamburg, Hong Kong, London, Los Angeles, Madrid, Milan, Moscow, Munich, Newark, New Jersey, New York City, Costa Mesa, California, Paris, San Diego, San Francisco, Shanghai, Silicon Valley(Menlo Park), Singapore, Tokyo and Washington D.C.

Notable Latham & Watkins alumni

References

  1. http://www.abovethelaw.com/2009/03/2008_revenue_numbers.php
  2. http://abovethelaw.com/2009/02/latham_watkins_profits_per_par.php
  3. http://www.abovethelaw.com/2008/03/whats_up_at_latham_watkinsmora.php
  4. http://abovethelaw.com/2008/12/latham_watkins_salary_freeze.php
  5. http://www.washingtonpost.com/wp-dyn/content/article/2009/02/27/AR2009022702751_pf.html
  6. http://abovethelaw.com/2009/02/nationwide_layoff_watch_latham_1.php
  7. Reckard, Scott (2006 November 8). "Scientology groups to pay back $3.5 million". Los Angeles Times. Retrieved 2008 April 24. {{cite news}}: Check date values in: |accessdate= and |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  8. Gray, Tyler (2008-03-31). "Anonymous on Trial? Scientology Steps Up Skirmish". Radar. Retrieved 2008-12-16.
  9. Lat, David (2008-04-01). "Latham & Watkins to Free Stress Tests?". Above the Law. Retrieved 2008-12-16.
  11. Bowman, Lisa (1999 October 3). "Schindler heads toward life post-Mitnick". ZD Net. Retrieved 2008 April 24. {{cite news}}: Check date values in: |accessdate= and |date= (help); Cite has empty unknown parameter: |coauthors= (help)
  12. Heller, Jamie (2008 March 28). "Lawyer Pleas in Case Charging that He Bilked Firm and Clients". Wall Street Journal. Retrieved 2008 April 18. {{cite news}}: Check date values in: |accessdate= and |date= (help); Cite has empty unknown parameter: |coauthors= (help)

External links

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