We wonder if law firms think of our Nationwide Layoff Watch feature like the Eye of Sauron, from Lord of the Rings. If so, “The Eye” has come to rest on Charlotte.
We hear rumors that Hunton & Williams is laying off associates down in CLT. From a tipster:
Hunton & Williams in Charlotte is conducting layoffs, including first-years [from the class of 2007]. The first-years may work until June 30, but then they must leave the office; however, they will have access to email and phone and pay until December 31.
Pay through December 31? Seems odd. It would amount to six months of severance, even though “market-rate” severance in recent law-firm layoffs hovers around three months. Is Hunton raising the bar?
In addition, we hear that two incoming H&W first-years in Charlotte had their offers rescinded. If true, it’s not surprising; other firms have previously rescinded offers to CLT associates. See, e.g., Sonnenschein.
Layoff talk centered on Hunton’s Charlotte has also surfaced at Infirmation / Greedy South, here and here. Back in January, there were rumors of firings in Atlanta (labor and employment).
We contacted Hunton & Williams. Their comment: “We don’t comment on rumors.” C’mon, really? What do you comment on, then?
If you have any more information on the H&W situation, please send us an e-mail (with Hunton & Williams in the subject line). Thanks.
Update: No layoffs — yet — according to managing partner Walfrido Martinez, who spoke to Am Law Daily. But he acknowledged that the firm is “redeploying” an unspecified number of asset securitization lawyers in Charlotte to other practice areas: “Option number one is always redeployment. If redeployment does not work, we will talk about transition arrangements.”