Business

Jobless lobbyists now wandering the streets of DC

Oh noes:

Lobbying giant Patton Boggs has laid off 65 lawyers and staff, including 23 from its Washington, D.C. practice, according to multiple reports.

The firm’s revenue and net profits had fallen between 2011 and 2012. Lobbying revenue declined five percent from $48.4 to $46 million, according to calculations by The Hill.

The layoffs are an attempt to “align head count with revenue,” managing partner Edward Newberry told the Wall Street Journal.

“We’re trying to be very disciplined in managing expense and operations,” Newberry said.

The move responds to increasing market pressure and is expected to save Patton Boggs about $15 million. The firm has reportedly renegotiated its Washington, D.C., lease, and moved portions of its staff to Virginia, where office space is less expensive.

Just what this country needs: more out-of-work lawyers.

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Comments (1)

  • shorelineliz
    Posted on March 4, 2013 at 10:10am

    Wow. 66 lawyers wandering around Washington, DC. Sounds like a riot! Call out the National Guard! Dear Lord! Hide your children. Especially your daughters. On another note: Bars and Pubs are opening at 5 am to handle the booze needs of America’s biggest consumers of liquor. Great White sharks that normally are very brazen and swim close to shore have kept far out to sea not wanting any competition from any land sharks.

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