Archive for June, 2012

The Collapse of the Large Firm Model

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Recently, the New York-based law firm of Dewey and LeBoeuf filed for chapter 11 bankruptcy protection. At the peak of the firm’s size, it employed about 1,450 lawyers. However, due to poor money managing, compounded by the economic recession, things took a major turn for the worse. In May 2011, over 160 of the firm’s 300 partners resigned amid speculation that the firm was in serious monetary trouble. In early May, 2012, the firm had to terminate 433 of its 533 New York employees. The firm had hoped to find a merging partner in order to keep the firm alive,…Read More »