Last week I posted about law firm layoff rumors that were overheard on a train. Well today, for a different law firm, rumors turned into reality.

In an indication that even some of the strongest law firms are suffering, Latham Watkins LLP, an industry giant, announced layoffs of 190 lawyers, which is about 8% of the law firms attorneys. In addition to the attorney layoffs, the firm is also terminating 250 non-lawyer positions. In recent months, the Los Angeles based firm have been firing attorneys and staff, freezing salaries, and cutting costs.

The New york office has reportedly laid off 440 employees, including 10% of their associates.

Tough times.

On a lighter note, their severance packages are being called some of the best in the industry right now. Reportedly they are getting 6 months salary, and medical benefits.

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