The majority of Biglaw firms have rolled back their COVID-19 austerity measures the world over, but the coronavirus-related changes are far from over. With employees set to be working from home for the indefinite future, restructuring is now the name of the game, and at some firms, that means layoffs.
That’s what’s happening at Norton Rose Fulbright, a firm that placed just outside the top 10 in the most recent Am Law 100 rankings. NRF is conducting a restructuring in its Europe, Middle East, and Asia (EMEA) offices, and more than 130 jobs will be lost in the process. Most of the cuts will be made in the firm’s London office.
It’s not just staff members who will be feeling the pain of these cuts — some attorneys are affected as well. Legal Week has more information:
In total, the firm has scrapped 24 legal PAs, 19 fee-earners including counsels and associates, and 89 business services functions across the U.K., Europe, Middle East and Asia arm. The arm’s managing partner, Peter Scott, told Law.com International that the individuals affected have been offered a “generous package” as part of the process.
Scott noted that the cuts weren’t a “direct response” to COVID, but came as part of a review into the firm’s business services functions, which just ended in December. “Our new operating model will help us serve our clients as effectively and efficiently as possible,” he said. “Unfortunately, a number of colleagues who have made important contributions will be leaving us. We have followed a process that is as fair, robust and sensitive as possible, to bring a swift resolution.”
Best of luck to all those affected by the layoffs at Norton Rose Fulbright.
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.