May 11, 2012
Employment Ramifications of Dewey Collapse
It's old news that Dewey & LeBoeuf is collapsing / has collapsed. Yesterday, the PBGG announced it is taking over Dewey's pension plans, which collectively are underfunded by an estimated $80 million (see related story at Above-the-Law). The Wall Street Journal reports that a WARN Act suit already has been filed. And Bill Henderson has an excellent post over at the The Legal Whiteboard on the nonlegal obligations the partners at Dewey owe their staff:
What do Dewey & LeBoeuf partners (and recent ex-partners) owe their staff? I’m not talking about technical calculations based on the federal WARN law. I am talking basic principles of human decency that have to be followed in order to look one's self in the mirror each morning—what our non-professional parents or grandparents would tell us to do.
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