Miller Canfield Conducts Layoffs and Furloughs Amid Economic Slowdown
Detroit-based Law Firm Miller Canfield Reduces Headcount by Nine Lawyers
Miller Canfield, a Detroit-based law firm, has laid off at least nine lawyers and furloughed two additional full-time attorneys, despite receiving millions of dollars in a Small Business Administration (SBA) loan. The firm cited the economic slowdown, particularly in the auto industry, as the reason for the personnel cuts.
In a statement on Above the Law, the firm confirmed that one principal and six non-principals were laid off, including three associates. Additionally, two full-time attorneys, including one associate, were furloughed.
Miller Canfield is one of many Am Law 200 firms to have laid off attorneys despite receiving an SBA loan. The Paycheck Protection Program (PPP), which the SBA administers, was created in response to the COVID-19 pandemic to provide financial assistance to small businesses that were struggling to keep their doors open and employees on the payroll.
The PPP loan program, designed to help small businesses pay their employees and keep them on the payroll during the pandemic, has come under scrutiny in recent months as some larger companies, including law firms, have been criticized for taking advantage of it the program.
Despite receiving a PPP loan, Miller Canfield has joined a growing list of law firms that have laid off attorneys in recent months. The economic slowdown, particularly in the auto industry, has significantly impacted the legal industry, with many firms struggling to maintain their revenue streams.
Many law firms have had to make difficult decisions in the face of the economic downturn, including reducing headcount and implementing furloughs. However, the decision to lay off attorneys after receiving a PPP loan has raised questions about the program's effectiveness and whether it is truly helping small businesses in need.
In conclusion, Miller Canfield, a Detroit-based law firm, has laid off at least nine lawyers and furloughed two additional full-time attorneys despite receiving millions of dollars in a Small Business Administration (SBA) loan. The firm cited the economic slowdown, particularly in the auto industry, as the reason for the personnel cuts. The decision to lay off attorneys after receiving a PPP loan raises questions about the program's effectiveness and whether it is truly helping small businesses in need.