Patton Boggs, the influence industry’s top-earning lobby firm, made another round of layoffs on Thursday.
The law firm laid off 10 lawyers and 35 staff members in its second round of downsizing this year. A firm spokesman said no lobbyists were included in the layoffs.
Like much of the legal industry, Patton Boggs has been struggling with a tough economy, and has reportedly entered merger talks with other law firms, including Locke Lord.
Patton Boggs said the “tough decisions” behind the layoffs are helping its bottom line.
“The changes we have been making are part of an overall plan we unveiled several months ago to address changing client needs and market conditions. As a result of these tough decisions, we are becoming far stronger financially.”
The layoffs will save Patton Boggs some serious cash: $5.5 million in salary and benefits, Patton Boggs managing partner Edward Newberry told The Wall Street Journal.
Earlier this year, the firm laid off 65 employees, including 23 based in its Washington office. Others have left the firm on their own terms — lobbying star Jonathan Yarowsky left for Wilmer Cutler Pickering Hale and Dorr, and others landed at Holland & Knight.
In addition, Patton Boggs has been locked in a massive litigation battle with Chevron, which has helped deplete the firm’s resources.
The firm is still holds the No. 1 spot for lobbying revenue, but its K Street take has begun to decline. Patton Boggs has earned $30.7 million in lobbying fees so far this year, a sizable drop from the $35.2 million the firm took in for the first three quarters of 2012.
— This story was updated at 4:10 p.m.