Times may be good right now, but Biglaw and small business are bracing for a possible recession, leaving associates and staff members looking over their shoulders for the evil that could lie in wait: layoffs. We first sounded the alarm about the layoffs in April, with continued coverage in the weeks that followed. Now, just two months later, our predictions have come true.
Redgrave – one of gaming’s largest information governance and boutique eDiscovery companies – was due to merge with Am Law 100 firm Nelson Mullins at the end of 2020, but the tie-up was called off in early 2021 due to conflicts with customers. Now Redgrave finds himself in an even worse situation.
In a memo sent on June 9, managing partner Jonathan Redgrave informed all staff that due to a “substantial decrease in demand” – demand that the company does not see “returning to the same level in near future – the business would be “diminished”.[ing] [its] number of timekeepers by approximately 10%. »
We certainly hope that’s not an indicator of what’s to come for the legal profession, but we haven’t even reached the third quarter and we have a law firm laying off 10% of its workforce — and we were told that lawyers were included in this unfortunate segment of corporate employees.
In the full memo (available on the next page), Redgrave goes on to assure remaining employees that those who have been terminated will receive severance packages and assistance to help them navigate “through this transition.”
Redgrave LLP did not immediately respond to requests for comment. We will provide an update if and when the company provides us with a statement.
Good luck to everyone affected by the layoffs at Redgrave.
If your firm or organization is reducing the ranks of its lawyers or staff, whether through open layoffs, furtive layoffs or voluntary buyouts, please let us know. Our extensive network of tipsters is part of what makes Above the Law thrive. You can email or text us (646-820-8477).
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Staci Zaretsky is an editor at Above the Law, where she has worked since 2011. She’d love to hear from you, so feel free to email her with tips, questions, comments or criticism. You can follow her on Twitter or connect with her on LinkedIn.