Those targeted will get severance packages with transitional income and benefits, including health care and outplacement.
In March, the firm deferred start dates for incoming associates.
Weil, Gotshal & Manges is an international law firm headquartered in New York City. It is one of the largest and most highly regarded law firms in the world, with approximately 1,300 lawyers and gross annual revenue in excess of $1.7 billion.
This is not surprised, considering the economic climate regionally as well as internationally.