By Megan R. Wilson - 02/25/14 11:21 AM EST
K Street king Patton Boggs is shuttering its New Jersey office, continuing with its efforts to cut excess costs.
Six attorneys will work out of space in Florham Park, N.J., and an “undetermined number” will be transferred to the firm’s New York City office, Patton Boggs managing partner Ed Newberry said in an email.
The closure is part of a planned restructuring that’s been happening since last year, he told The Hill. The firm went through two rounds of layoffs, firmwide, nixing about 65 people.
Overall, the firm saw a $70 million drop in its legal revenue, Newberry told the National Law Journal, as projects ended over the last two years. But he says the firm is signing new clients and was $45 million in the black in 2013.
“The restructuring and strategic plan we implemented last year is producing strong results as we expected and our projections are for a strong 2014,” he told The Hill.
Patton Boggs, which ranks No. 1 among Washington lobby firms by revenue, saw its lobbying earnings tumble $6 million in 2013 to $40.2 million, the largest drop of any of the top 20 K Street firms.
Several of its high-profile lawyers and lobbyists have departed since the beginning of 2013, including Vince Frillici to Mercury, attorney Andrew Zimmitti to Manatt, Phelps & Phillips and Bob Tompkins, head of Patton’s government contracts practice, to Holland & Knight.
However, the firm recently added Richard A. Shilts, who left the Commodity Futures Trading Commission, where he led the regulator’s division of market oversight.