Business · Companies · 21 hrs ago
Weil law firm faces closure after about 30 partners leave
New York law firm Weil, Gotshal & Manges faces possible closure after a wave of partner departures.
On October 28, its leadership recommended an orderly liquidation, but the partners still had to vote.
Weil had about 1,200 lawyers and earned more than $2 billion in 2025, over three times the revenue of Spain’s largest firm, Garrigues.
The firm had no debt and its partners were highly paid, but it lost about 30 partners in 2026, including major client-getters.
In a partner-owned law firm, clients and future income can leave with the lawyers, while many costs remain.
US professional rules generally prevent firms from stopping lawyers from practising elsewhere, and clients can choose their own lawyers.
The departures risked creating a cycle of further exits and threatened hundreds of jobs, while the liquidation proposal remained subject to a partner vote.
Weil, Gotshal & Manges’ leadership recommended an orderly liquidation after the firm lost close to 30 partners in 2026.
The partners still had to vote on the recommendation, but closure appeared likely.
The departures happened over several weeks and included some of the firm’s main business generators.
Weil had about 1,200 lawyers and more than $2 billion in revenue in 2025.
The article says the departures set off a spiral as remaining partners feared being left to cover the firm’s costs.
- Who
- Weil, Gotshal & Manges and its partners.
- What
- The firm faces closure after losing close to 30 partners; its leadership recommended an orderly liquidation.
- When
- The recommendation was made on October 28; the partner departures occurred in 2026.
- Where
- Not stated
- Why
- The article attributes the crisis to partners leaving with clients and the resulting fear among remaining partners that they would bear the costs of a shrinking firm.
This story does not have two clearly opposing sides.
Weil lost close to 30 partners, including some of its main business generators.
Weil’s leadership recommended an orderly liquidation to its partners.
The partners still had to vote on the recommendation.
- Partners lost
- Close to 30 in 2026
- Recommendation date
- October 28
- Lawyers
- About 1,200
- Revenue
- More than $2 billion in 2025
What people are saying
orderly liquidation