Back in November 2025, Perkins Coie announced its plans to combine with Ashurst, a transatlantic tie-up expected to propel the firm into the top 20 of the Am Law 100. With the merger expected to close sometime in the third quarter, Perkins isn’t exactly enjoying a kumbaya moment across the partnership. Instead, they’re voting with their feet — sources say the firm is leaking partners like a sieve, with recruiters circling like sharks and management quietly floating retention bonuses to stop the bleeding.
According to multiple recruiters and firm sources, “tons of Perkins partners” are now on the market, and at least 22 partners have already left the firm’s Seattle headquarters. In fact, as reported by the American Lawyer, one recruiter with clients in Seattle said rather bluntly of the situation:
“We are talking to Perkins partners, and we are going to be seeing more defections. My sense is that the way the merger was presented was not ideal; partners were feeling like they were not given a choice. It was more like, ‘This is happening, and you need to be OK with that and get on board’ — not much of a discussion.”
That theme — no buy-in, no real consultation, no partner agency — keeps coming up. Another recruiter was even more direct:
“[T]ons of Perkins partners are looking for jobs” if the merger with Ashurst goes through, and noted some have threatened to depart if the merger is finalized.
Internally, the resentment is even worse. One current Perkins partner didn’t mince words, calling the merger “a monumental f— up.” That partner claimed management never meaningfully vetted the merger across the partnership and said many would likely vote “no,” adding that unlike the merger between Hogan Lovells and Cadwalader, some Perkins partners see Ashurst as a brand dilution. Even “lifers” at the Perkins are displeased, with the merger inspiring lateral “window shopping” at other firms.
According to multiple sources, to stop the bleeding, Perkins is now exploring partner retention bonuses, reportedly structured as two-year contracts with clawbacks if partners leave early. As one source put it, although bonuses haven’t been discussed with partners, “the firm is seriously thinking about them.” Another source said the firm is “not proactively going out and making retention bonus offers to partners.” But unfortunately, these bonuses could certainly come in handy for the firm, because in reality, “There’s only so much hemorrhaging they can do before the deal is off.”
The view on this prospective merger from 30,000 feet is that some partners are so upset about how this deal was approached that they’re considering leaving — if they haven’t already left. Perkins Coie seems to be dealing with a partner confidence crisis, leaving the tie-up with Ashurst hanging in the balance. Yes, this combination may still close, and the press releases will of course sound optimistic, but on the inside, it’s a lot messier than it looks.
‘More Defections’? Perkins Partners Seek Alternative Options in Advance of Ashurst Merger [American Lawyer]
Earlier: Perkins Coie Faces Partner Run As Ashurst Merger Deal Nears
The Next Transatlantic Biglaw Heavyweight: Ashurst Ties The Knot With Perkins Coie
Staci Zaretsky is the managing editor of Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Bluesky, X/Twitter, and Threads, or connect with her on LinkedIn.
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