Weil Gotshal Partners Vote to Shut Down Nearly Century-Old Firm
Weil Gotshal partners voted to wind down operations after partner departures.
Why it matters: This marks a historic shift in BigLaw dynamics, impacting partnership economics, lateral hiring, and competition. Firms must rethink strategies as lateral moves reshape market balance.
- On October 28, 2026, Weil Gotshal's management committee recommended an orderly wind-down to its partners.
- The firm employed about 1,200 lawyers and generated over $2 billion in 2025 revenue.
- Significant partner defections, including executive committee members, preceded the decision.
- Merger talks with Willkie Farr & Gallagher failed before the wind-down recommendation.
Weil, Gotshal & Manges, a venerable law firm established in 1931 and known for leading bankruptcy practices in cases like Lehman Brothers and Enron, is set to wind down operations following partner defections and unsuccessful merger talks. On October 28, 2026, the firm’s management committee recommended an orderly wind-down to its partners.
The firm, which employed roughly 1,200 lawyers and generated over $2 billion in revenue in 2025, faced significant partner departures including members of its executive committee. These defections undermined stability and preceded the dissolution decision.
Merger discussions with Willkie Farr & Gallagher collapsed, removing a possible alternative that might have sustained the firm. Following a careful strategic review, Weil's management committee advised partners to pursue a wind-down.
To manage the process, Weil engaged restructuring advisors AlixPartners. Associates and staff were informed they would continue receiving pay for 90 days and receive bonuses at the end of 2026, softening the impact.
Importantly, Weil plans to conduct the wind-down outside of bankruptcy court, signaling an orderly closure rather than a distressed liquidation.
This development signals major disruption in BigLaw, highlighting evolving pressures on partnership economics, partner retention, and competition for lateral moves.
By the numbers:
- 1,200 lawyers — Weil Gotshal's workforce size
- $2 billion revenue — firm's 2025 annual revenue
- 90 days — continued pay period for associates and staff before wind-down