Weil Gotshal & Manges to Wind Down After 90 Years
Weil, Gotshal & Manges' management committee recommended an orderly wind-down of the firm, with partners set to vote on the proposal and the London office slated to close by the end of the year. The decision follows the collapse of merger talks with Willkie Farr & Gallagher and a wave of partner departures that prompted the firm to hire restructuring experts from Davis Polk, according to Reuters.
A senior partner also told junior lawyers to seek new employment, Bloomberg reported. Earlier, the firm had engaged Davis Polk specialists after partner exits accelerated, and senior lawyers advised junior staff to look for jobs amid uncertainty, as detailed in the Bloomberg and Reuters reports.