Milbank Lays Off 49 Associates, 40 Staff [Update 2]

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New York City-based Milbank has laid off 49 associates and 40 staff.

The layoffs took place across the firm, but the corporate practice was especially hard hit.

If you have any details about layoffs at Milbank, please — send us a confidential tip!

  

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New York’s Milbank, Tweed, Hadley & McCloy LLP has offices in Washington DC, Los Angeles, London, Frankfurt, Munich, Tokyo, Hong Kong, Singapore and Beijing. Milbank is a global law firm, with approximately 550 lawyers, who provide a full range of financial and business legal services to many of the world’s leading financial, industrial and commercial enterprises, as well as governments, institutions and individuals.

UPDATE:

A JDJournal tipster confirms the numbers above, and says the firm will lay off another 50 associates next month.

Also, for the first time, junior partners are in the line of fire for being voted out of the partnership (particularly in Corporate). This was told to me by a very senior partner at the law firm.

The tipster then adds a juicy rumor:

There is one junior partner who is having an affair with a former HR legal recruiter, and he is the first being considered for firing.

Thanks for the update!

UPDATE 2:

Another tipster tells us:

At least 6 first years were laid off at Milbank, including one foreigner who has to leave the country now.

Thanks!