Hughes Hubbard Lays Off Associates Amid Pandemic

By Xiumei Dong
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Law360 (July 7, 2020, 2:21 PM EDT) -- Despite claiming a small business loan as part of the federal government's COVID-19 relief efforts, New York law firm Hughes Hubbard & Reed LLP confirmed Tuesday that it had laid off an undisclosed number of associates and staff to weather the pandemic.

New York-headquartered Hughes Hubbard pointed to "the deep impact of court closures and a slowdown in deal activity" in a statement Tuesday confirming the layoffs of associates and staff. (AP Photo/Mark Lennihan)

Hughes Hubbard declined to disclose the number of employees who were laid off or when they were let go. In a statement to Law360, a firm spokesperson said it had to alter the way it conducts business due to "the deep impact of court closures and a slowdown in deal activity" caused by COVID-19.

"To prepare for that future, we must take action that we have long sought to avoid and lay off certain attorneys and staff," the spokesperson said. "We regret the hardship these steps cause as we, and the industry, continue to evolve to meet this changing environment. We have confidence that the action we take today will enable us to continue to serve our clients, to compete at the highest level and to deploy our people effectively."

Hughes Hubbard has not announced any other austerity measures due to the pandemic.

The firm was among a group of law firms that were approved for loans ranging from $5 million to $10 million under the Small Business Administration's Paycheck Protection Program.

According to a report by Above the Law, the firm is offering affected associates three months' severance pay and five free sessions with a recruiter to help them find another job.

Hughes Hubbard declined to disclose more details Tuesday.

--Editing by Gemma Horowitz. 

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