Hogan & Hartson Offers Sweet Buyout Deal to Senior Staff: 20-30 Weeks
To avoid staff layoffs, one well-known Washington, D.C.-based international law firm is offering a sweet buyout deal to some staffers. Those who opt to leave the 1,100-attorney partnership will receive a hefty parting gift.
“Staffers with more than five years of experience will be offered four weeks pay plus one week for every year they’ve been with the firm. For some senior people, that could end up at 20 or 30 weeks, which is considerably more than what other firms are offering displaced staff members as part of a severance package,” reports Above the Law, based on an interview with the firm’s chairman, J. Warren Gorrell Jr., on Friday.
Gorrell says he’s not worried about having to make involuntary staff layoffs if the buyout offer isn’t accepted, but instead hopes that not too many staffers will jump on the buyout bandwagon, the law blog says.
