Weil Still Feels the Fallout From Texas Retreat: Texas Brief

The Texas Setback Weil Still Can’t Shake

New York-based Weil, Gotshal & Manges was once in the top echelon of law firms, a leader in closing private-equity deals and shepherding giant bankruptcies. It was also seen as “the paradigm of Big Law in Texas,” as one local industry publication put it.

But after a 2013 post-financial-crisis strategy shift that included mass layoffs and cut partner pay, the firm has struggled to grow revenue at the pace of its peers, and the gap has only widened in the last year.

Its efforts to build out commercial litigation ...