Weil Practice Head Tells Lawyers to Find Jobs as Firm Struggles - Bloomberg Law News
The law firm Weil, Gotshal & Manges is facing a potential crisis as its capital markets practice head advised junior lawyers to seek other employment. The firm is currently consulting with restructuring experts amid a wave of partner departures and failed merger talks.
Why it matters
The potential collapse of a major 'Big Law' firm could have significant ripple effects on the legal industry and the corporate clients they represent.
The leader of a Weil Gotshal & Manges practice group told his junior lawyers to look for employment, underscoring the firm’s perilous state as it consults with a restructuring lawyer.
Alex Lynch, who leads Weil’s capital markets group, communicated the news to associates in a group meeting Tuesday, a person familiar with the announcement said. He said the associates will remain employed for the time being and will continue to work on client matters, though he offered no specific timeline on their tenure, said the person, who requested anonymity to describe Weil communications.
Lynch and Weil did not respond to a request for comment.
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