New York’s Kramer Levin has confirmed it laid off 18 lawyers and 21 staff members.
From managing partner Paul Pearlman:
It is not surprising that the economic downturn confronting the country has touched virtually every industry, including the legal community… While our firm ‘s performance in 2008 was relatively strong and our size and practice diversity provides us with a solid platform to be successful in these difficult times, we have nevertheless felt the impact of the prevailing economic conditions… As a result, 18 attorneys and 21 staff have recently been asked to leave the firm. These decisions were based on a variety of factors, including firm, departmental and individual performance. Those affected have been informed of our decisions.
Founded in 1968, Kramer Levin Naftalis & Frankel LLP is a law firm with offices in New York City and Paris.