Latham & Watkins cuts 190 associates, 250 staff
Latham Watkins has cut 440 employees. 190 associates - 12 per cent of the firm's total associate headcount - and 250 staff will be layed off. The cuts represent the largest to date by a U.S.-based firm.
According to reports, the firm’s New York and Los Angeles offices will be hit hard.
The cuts are a reaction to a profit fall in 2008, when Latham's average profits per equity partner (PEP) have dropped from $2.27m to $1.8m.
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