Lawyers on both sides of the Atlantic and beyond were left shocked after news emerged on Wednesday that one of the most prestigious and profitable law firms in the world intended to wind down
Weil Gotshal & Manges has been a Wall Street staple for nearly a century. Last year it made more than $2 billion in revenue, and over a billion dollars in profit.
And yet, in what feels like the blink of an eye, the firm’s management committee decided to recommend that the firm shuts down, leaving more than 2000 people - including about 1,200 lawyers - without a job.
How did this happen? This emergency edition of The Lawyer Podcast breaks down the story.
