Katten Muchin Rosenman Adjusts to COVID-19 Challenges with Limited Layoffs and Reinstatements
Law Firm Lays off "Limited Number" of Lawyers and Business Professionals
Furloughed Employees to be Reinstated for Remote Work or Reallocated PositionsFull Pay to be Reinstated on December 1st and Lost Pay Made Up for Remaining Staff
Law Firm Hiring New Lawyers in High-Demand Practices
Affected Employees to Receive Severance Pay and Extended Health Insurance
Katten Muchin Rosenman, a leading law firm, has announced that it will be laying off a limited number of lawyers and some furloughed business professionals. The firm is also planning to reinstate other furloughed employees who can work remotely or who have been reallocated to other areas of the firm, according to Law.com, Law360 and Bloomberg Law. The employees will be brought back by the end of November.
The COVID-19 pandemic has greatly affected many businesses, and law firms are no exception. Many law firms have had to make difficult decisions in order to navigate the challenges and opportunities presented by the current and future environments. Katten Muchin is the same, and they have had to make the difficult decision to lay off some of their lawyers and business professionals.
While the law firm is cutting some lawyers, it is also hiring new lawyers in certain “high-demand” practices. This allows the firm to maintain its competitive edge in the legal industry and continue to provide top-notch services to its clients.
Those who are laid off will receive severance pay based on years of service and health insurance through the end of April 2021, according to Law360. This ensures that the affected employees will have some financial stability during this difficult time and the necessary support to find new employment.
As the firm navigates these challenging times, it has also announced that it will be reinstating full pay on December 1st and making up lost pay for those still at the firm. This is a positive step for the remaining employees and shows the firm's commitment to their well-being.
In a statement, the firm said, “We do not take lightly the difficult decisions we have made. We will be parting ways with wonderful colleagues whom we will miss. To position Katten for continued success, however, we must be vigilant to align our business with the challenges and opportunities presented by the current and future environments.”
The COVID-19 pandemic has greatly affected many businesses, and law firms are no exception. Many law firms have had to make difficult decisions in order to navigate the challenges and opportunities presented by the current and future environments. Katten Muchin Rosenman is the same, and they have had to make the difficult decision to lay off some of their lawyers and business professionals while also reinstating furloughed employees who can work remotely or in other areas of the firm.
The firm is also hiring new lawyers in certain high-demand practices while reinstating full pay on December 1st and making up lost pay for those still at the firm. The affected employees will receive severance pay based on years of service and extended health insurance. Katten Muchin Rosenman continues to strive for success in the face of the ongoing pandemic and economic challenges.