Kirkland & Ellis has let go of multiple corporate associates in Texas following performance reviews, according to four sources familiar with the cuts, including people who said the law firm is contending with a downturn in corporate work and overcapacity of transactional hires made in response to last year’s surge in demand.
Sources with direct contact with affected individuals said trimming associate ranks is a common practice for the highest-grossing law firm in the world and other big firms, as the year’s end occasions a hard look at the financial performance of various practices and the performance of individual associates. But market conditions have made certain practices more vulnerable than others, and some of the sources said the latest round of cuts at Kirkland appeared to target more corporate associates than other practices.
