Employees at New York�s Pennie & Edmonds face a difficult Christmas after management broke the news that job losses would follow the firm�s takeover by Jones Day.
Pennie is on the cusp of finalising a combination with Cleveland�s Jones Day that is expected to be resolved in days.
Due to the takeover, Pennie management said in a memo earlier this week that it was the intention to wind-up the 120 year-old firm by 31 December, according to the New York Journal.
It is expected that the majority of Pennie�s partners will join Jones Day, but the offers have been extended to lawyers individually and not the firm as a whole.
London's The Lawyer.com has further details here.