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Stroock & Lavan has laid nine of their lawyers and 18 staffs where the firm is looking to right-size amidst of a slowdown which has caused a handful of other firms to take similar steps. These layoffs came at a time after a ‘comprehensive review’ of the firm’s practice groups along with their anticipated demands. The layoffs have struck firms including Goodwin Procter, Kirkland & Ellis, Cooley, and Gunderson Dettmer. Many of the moves had been reported to have come at firms that heavily weighted towards tech clients, which slashed budgets and laid off employees.
Stroock was the 128th and the largest law firm in terms of revenue in the US in 2021, according to AmLaw Data, where it brought in $274 Million. In such a way Stroock responded months later by hiring six restructuring attorneys from LuskinStern & Eisler in New York.
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