Nationwide Layoff Watch: What will 2009 bring for Mayer Brown?

On Christmas Eve, Mayer Brown announced its bonuses for associates in the New York office. They matched the market— no surprises there. But our tipster noted that associates at the firm are unsettled by rumors making the rounds of layoffs coming in 2009. Mayer already laid off 33 attorneys, as well as administrative staff in November.

One sentence in the bonus memo has an ominous tone that’s making Mayer associates uneasy. The memo says that bonuses will be paid January 16, 2009 but “only to associates in good standing who are employed by the firm on the date the bonus is actually paid.” From a Mayer tipster:

People are upset about the language, (“All bonuses will be paid only to associates in good standing who are employed by the Firm on the date the bonus is actually paid.”) believing it to reinforce the idea that layoffs are happening come January 5th.

Are Mayer associates overreacting to the memo language?

Firm spokesperson Bob Harris says this is the “same language that has been used for several bonus seasons.” We looked back at last year’s memo though and didn’t see a similar sentence.

UPDATE: Associates are overreacting. Harris points us to a different 2007 memo that does employ the same language.

Harris was emphatic in saying that there are “no plans whatsoever for additional layoffs” at Mayer Brown.

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Rumor mongers suggest otherwise. Predictions on the practice groups to be hit with layoffs, after the jump.


These are just rumors, of course, but the source claims to have ears that pick up on conversations among New York’s Planning Committee. The tipster predicts the following:

These layoffs will hit the (a) Leveraged Finance group, which was untouched by the November layoffs, (b) Structured Finance, which did not cut enough fat in November (eg, there are still fourth year securitization associates doing doc review) and (c) what’s left of the corporate group (since they recently lost a ton of business to Latham on partner departures).

These are tough times for finance lawyers, unless they’re bankruptcy specialists. We’ll be watching out for news from Mayer in the new year. As always, send us tips at tips@abovethelaw.com.

Earlier: Associate Bonus Watch: Mayer Brown

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Nationwide Layoff Watch: Mayer Brown Update