Following Layoffs, Sonnenschein Chair Predicts Banner Year in 2009
Despite lawyer and staff layoffs earlier this year, Sonnenschein Nath & Rosenthal is growing and is expecting a banner year in 2009, says the firm’s chairman, Elliott Portnoy.
After laying off 37 attorneys and 87 staff in May (plus making additional layoffs in October), the 660-lawyer law firm has added a total of 64 new attorneys to its roster this year, according to the Kansas City Star. “In the meantime, he said, the firm expects 2009 to be its most profitable year ever, recession or no.”
Although some practice areas, including transactional and real estate finance work, are soft, others are hot. In particular, Portnoy expects the firm’s regulatory and public policy practice to boom once President-elect Barack Obama takes office.
In the past, Portnoy has said he would like the firm to grow to 1,000 lawyers by the end of 2008. While that obviously isn’t going to happen this year, Sonnenschein is still pursuing this growth plan and open to the possibility of a merger, he says. “While we’ve separated underperforming lawyers, we’re substantially stronger than we were in January.”
Earlier ABAJournal.com coverage:
Katten Lays Off 21 Attorneys, Sonnenschein Lays Off 24
Growing as Planned, Sonnenschein Opens New Office in Switzerland
Sonnenschein’s Ambitious Growth Plans Call for 2 Mergers
Sonnenschein Acknowledges Layoffs of 37 Lawyers, 87 Staffers
