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Faegre Drinker, a prominent law firm ranked 55th on the Am Law 100 list, reported significant gross revenue of $991,262,000 last year. Despite this financial success, the firm recently decided to downsize its operations department.
Effective Date and Severance Packages
The layoffs became effective earlier this year on February 9th. Affected employees received generous severance packages to aid in their transition from the firm.
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Statement from Faegre Drinker
In an official statement, Faegre Drinker explained the rationale behind the layoffs:
“Faegre Drinker eliminated a small number of support roles effective February 9, 2024, representing less than 5% of our total operations and administrative headcount. No attorney or consulting professional roles were impacted. The firm offered generous separation packages to support individuals as they transitioned from the firm.”
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Impact and Future Outlook
The layoffs at Faegre Drinker affected less than 5% of the firm’s total operations and administrative staff. The firm emphasized that no attorney or consulting professional roles were impacted by these cuts, highlighting their continued commitment to maintaining their professional services.
In light of these changes, Faegre Drinker remains focused on its strategic goals and continues to support its clients with the same level of dedication and expertise. The firm’s decision to provide generous separation packages underscores its commitment to supporting affected employees through their transition.
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