Business of Law
Steptoe lays off 32, including 14 attorneys, following energy-price drop
Following a precipitous drop in oil and gas prices, Steptoe & Johnson has laid off energy lawyers and staff in its Colorado, Kentucky, Ohio, Pennsylvania, Texas and West Virginia offices.
A total of 32 people were recently let go, including 14 attorneys, reports the Charleston Daily Mail.
“Due to continued low oil prices and the negative impact on domestic oil and gas producers, we have seen a contraction in isolated areas of legal work for some of our major energy clients,” said managing partner and chief executive officer Susan Brewer in a written statement. “Accordingly, limited layoffs were implemented in both the attorney and non-attorney ranks.”
The Am Law Daily (sub. req.) also has a story.
