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Tuesday, May 1, 2012

Dewey & LeBoeuf On Verge Of Destruction

Breaking...In a sign that the legal services business model has changed permanently, an internal memo from venerable New York law firm Dewey & LeBoeuf reportedly urges firm partners to look for another job immediately.

The memo, first reported late last night by the New York Times, by necessity implies that the firm is facing imminent liquidation.  About 2,000 lawyers and support staff face the imminent loss of their jobs.

While teams of lawyers may leave in groups to other firms -- if they are lucky and only if the team has a rainmaker with a sizable book of business and rolodex -- many lawyers, and certainly most of the support staff, will be hard-pressed to find equivalent employment.

Eric Dixon is an independent New York corporate lawyer who is admitted to practice in both New York and New Jersey.  Mr. Dixon counsels businesses and individuals on sensitive legal, strategic and political matters. 

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