Weil Gotshal's Pending Wind-Down Would Hit Around 50 Jobs in Boston
Leaders said associates and staff could get 90 days of pay and benefits as the firm seeks a partner vote on the proposal.
- International law firm Weil, Gotshal & Manges is preparing to wind down its Boston operations following an exodus of high-earning partners and unsuccessful merger talks, leaving about 50 attorneys and staff members uncertain about their futures.
- Leadership at the firm recommended an "orderly wind-down" last week after unsuccessful merger negotiations, ending 95 years of operations for the nearly century-old firm.
- The closure comes less than five months after Weil opened a more than 37,000-square-foot office at Lyrik Back Bay, expanding its Boston footprint while occupying two floors at 1001 Boylston St.
- Associates and staff will receive salary and benefits for 90 days, with bonuses available for those staying until year-end; one associate reported more than 100 LinkedIn requests from headhunters within two days.
- As the nearly century-old firm prepares to close, it will send nearly 600 associates into the job market, having generated nearly $2.1 billion in revenue in 2025 as the 29th-highest-grossing U.S. law firm.
15 Articles
15 Articles
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In “Why Law Firms Collapse,” Yale Law School’s John Morley explains why apparently healthy law firms can go bankrupt seemingly overnight. That paper has been frequently cited by media outlets the since Weil, itself known for bankruptcy work, announced Oct. 28 that it would dissolve after 95 years.
Collapse of a Wall Street Legal Powerhouse: Weil Gotshal Moves to Dissolve After 95 Years as Billion-Dollar Law Firm Succumbs to Partner Exodus & Fierce Industry Rivalry
Collapse of a Wall Street Legal Powerhouse: Weil Gotshal Moves to Dissolve After 95 Years as Billion-Dollar Law Firm Succumbs to Partner Exodus & Fierce Industry Rivalry By: Russ Spencer In an extraordinary development that has reverberated throughout the American legal establishment, Weil, Gotshal & Manges, one of Wall Street’s most prestigious and financially successful […]
Weil Gotshal collapse exposes the fragility of law firm partnerships
Law firm partnerships are inherently fragile due to their lack of residual equity value and transactional cultures, making them susceptible to sudden partner departures and bank-like runs – and proposed government restrictions on non-compete clauses will make it worse, says Stephen Phillips I was a partner in a couple of major global law firms. At some point a stark realisation hit me: although as an equity partner I owned a fraction of the busi…
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