Is Milbank Setting Up For Stealth Layoffs? Not According to Milbank
As we’ve pointed out in the past, it’s difficult to tell the difference between “normal business practices” and “stealth layoffs” in these difficult economic times. Milbank has made a change in their annual review process, but what that means — if anything — is anyone’s guess.
At this point, we don’t know if Milbank is planing any attorney reductions. But our tipsters report these early warning signs:
Milbank sent an email around to all junior and senior associates that the performance review cycle would begin tomorrow. They moved the review up by 6 months. The reviews are normally done annually and the normal review period for juniors and seniors is June. Apparently the firm can’t wait that long to shed attorneys. …Milbank has laid the groundwork for stealth layoffs.
But Milbank told us that this change has been a long time coming. A firm spokesperson told ATL:
We did an overhaul of our evaluation system in late 2007 to early 2008 that was part of a broader firm excellence initiative. The new review process was designed to encourage excellence and provide more meaningful feedback, forward-looking career guidance and greater focus to the professional development of our associates. The roll-out of our new evaluation process was communicated to our associates in April 2008. This included split timing with a cycle for junior and senior associates commencing in January and another cycle for mid-level associates commencing in August. Last year, we started our junior/senior cycle in April simply due to planning and timing issues. The January start we are doing this year was the exact timing contemplated by our announcement to our associates last April.
Either way, we’d encourage Milbank associates to take the review process seriously this year.
Earlier: In This Market: Are You Getting Laid Off or Fired? A Kaye Scholer Case Study
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FIRST?
fist
One! eat my ass 5 thru 6
three
Milbank = racist war criminal profiteers
three
i wish ATL would implement a blog "excellence initiative"
First tipster is out to lunch. Just looked at an email we got last year on March 26, stating the review process would include "split timing of evaluations, with junior and senior associate evaluations at the beginning of the year and midlevel associate evaluations in the second half of the year. Our first review cycle under the new split timing will commence on March 31 for junior and senior associates."
MilbTTTnk.
MilbTTTnk.
any word on layoffs at Cahill?
Layoffs at Cahill?
9 & 10 I love calling something TTT as much as the next guy, but your shit doesn't even make sense. If you're going to go the cliche route and call something TTT, please at least do minimal homework and call it Milbank TTTweed.
oneHOLE says, "Camels are fun!"
my thoughts exactly 12
-- 11
it smells like oneHole in here. Who the hell let a oneHole in?!?!?! This is unacceptable.
hey 11 and 12 -- why don't you guys go blow each other?
#3 = oneHOLE product
5 = oneHole hugger.
God, this site sucks. What dribble from people who have no idea what the practice is responding to posters who worked in the law 1 year or two.
fisted
fake firm? or is this "milbank" an actual shop>?
20, you suck oneHole cock.
The firm did initiate this new review process last year. I remember them discussing the 'excellence initiative', and the changes it would bring to the review process, at a summer lunch event.
That being said, I have no doubt that the firm is trying to cut the fat.
homo alley
ummmm, huh?
I don't get it.
First!
(I vote in MN and W. Palm Beach - it doesn't really matter what number I am it is my INTENT that counts stupid!)
Is there a chart out there similar to the one below showing firm-by-firm 2009 salaries in light of the freezes?
http://www.lawfirmdiscussion.com/compensation/newyork07salary.php
The firm should try and cut Mystal's fat.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
STOP USING THE TERM "Shop" as a synonym for law firm. You sound like an enormous douchebag, and probably are.
Why is this the only blog I read in which each comment has to appear 5 times? No lawyer with any real work to do would waste their time on these comments, which is a shame since 1 out of 40 of them might be worth reading (for giggles, usually). Would some mild amount of comment moderation really be that difficult? I will now post this same comment 5 more times. (Because even if I don't, some other jackass will.)
Why is this the only blog I read in which each comment has to appear 5 times? No lawyer with any real work to do would waste their time on these comments, which is a shame since 1 out of 40 of them might be worth reading (for giggles, usually). Would some mild amount of comment moderation really be that difficult? I will now post this same comment 5 more times. (Because even if I don't, some other jackass will.)
Why is this the only blog I read in which each comment has to appear 5 times? No lawyer with any real work to do would waste their time on these comments, which is a shame since 1 out of 40 of them might be worth reading (for giggles, usually). Would some mild amount of comment moderation really be that difficult? I will now post this same comment 5 more times. (Because even if I don't, some other jackass will.)
Is there a chart out there similar to the one below showing firm-by-firm 2009 salaries in light of the freezes?
http://www.lawfirmdiscussion.com/compensation/newyork07salary.php
30-35 probably works at some miserable little slip-and-fall shop and just hates himself.
30-35 : Do you have any news on the Cahill layoffs?
Mintz Levin to freeze!!!
35-you are a big law idiot taking news and advice from refugees from the law. Going home at 11 p.m. tonight you pathetic loser?
Ha. This is excellent.
http://newyork.craigslist.org/mnh/lgl/991469818.html
Layoffs at Jacoby&Meyers. I think they are letting go all of the oneHOLEs first.
DLA Piper has laid off over 200 people. There are 7 more confirmed so far this week, with an insider projecting 15 more by the end of the week. DLA piper will not admit they have lost business due to their obscene rates, they are calling the layoffs performance based. Yeah Right.
Currently a class action suit based on the profile of those laid off is being explored by a more succesful law firm --one that did not cancel its Holiday Party and Freeze pay.
Did Milbank freeze salaries?
Were bonuses already handed out? It will be relatively quiet on the layoff front until after January 31. It makes more business sense for firms to hand out whatever bonuses they can at the end of the month, then assess the level of attrition that follows and terminate whatever additional associates they need to.
Die oneHOLE, DIE!
Why is no one reporting on Cahill?!?!? Can someone please just give us some kind of information!?!?
Mormon layoffs to be announced later today at the International Jell-O festival in Provo, Utah.
There's no denial of layoffs there.
How is "Milbank has laid the groundwork for stealth layoffs" answered by "we planned this 10 months ago"? Seems like the failure to deny is an admission--but it depends on the form of the question Elie asked.
Let me NAIL SHEEP in peace, please. Go back to your land of sand and camels, oneHOLE!
a mere ten percent associaTTTe bloodbath is not newsworthy, but a canceled holiday party sure is!
44, you spent $75 to post that joke ad on CL just so that you could link to it on ATL?
Why didn't you post it in the Casual Encounters section where it would have been free?
35
It makes more business sense for firms to hand out whatever bonuses they can at the end of the month, then assess the level of attrition that follows and terminate whatever additional associates they need to.
__________________________________________
Do you honestly believe there's going to be ANY level of attrition in this environment? No one is going to quit in this economy, and firms know it--anyone they want to get rid of they'll have to fire.
52 -- there was no mention of actual layoffs; there was only the suggestion by the tipster that Milbank moved up its evaluation process in an effort to cut people. The firm responded directly to this, claiming that they had planned this new schedule last year.
And no, I am not a Milbank PR person or whatever. Just someone who has some reading comprehension skills.
ROD PAMPERS is a liar and a cheat.
Hi, can anybody here still afford a rub n tug a couple days per week? Does anyone know about any "Recession Specials" in the R&T space?
TIA
20
They tookk errrr jerrbbbbss!
Did Milbank freeze or not? Someone must know!
Did Milbank freeze or not? Someone must know!
56, I think there will be some attrition (people changing careers, etc.), but not nearly as much as there has been in the past. Still, even there ends up being no attrition for a particular firm, it makes more sense for the firm to wait until the end of the month and see who, if anyone, leaves on their own before making cuts.
MYSTAL = anti-hunger strike
60 - comment of the post. great reference.
you know that sound when you pull the hammer back?
All of you lame ass dudes, get a life!
60 -- nice
57--How do you know what Elie asked? The post doesn't tell us: it states "A firm spokesperson told ATL". In response to what question?
If the question were "What's up with the review process?", then nothing.
If the question were "Is the change in the review process a prelude to layoffs", then the issue was broached and Milbank was non-responsive.
You farging numbnuts corpies should keep your comments which evidence your misguided credulity to yourselves. It embarasses all of us.
The fact that Milbank set this up as part of its "excellence initiative" does not mean that it was not done with the purpose of having more chances to do stealth layoffs. From the partners' perspective, the firm will be more excellent if it has 2 chances a year to trump up reasons to fire people rather than 1, and it is no coincidence that they set the review cycle to end a few weeks after bonuses are given so that they can decide how many more to fire.
55 - I'm creating this new game, it's called 'Jump to Conclusions'
DID MILBANK FUCKING RAISE OR NOT.
47/61/62/72 - cool out. First paycheck of 2009 for Milbank is January 15. They don't always announce ahead of time if there isn't a big shift across the board, so there's absolutely nothing to report and likely won't be until at least Thursday. Even then, Milbank has adjusted salaries in late January/early February before, with retroactive bumps back to 1/1.
In other words, calm the hell down.
Milbank's excellence initiative is retarded. The whole thing was (still is) a waste of time and money. Partners just want their firm to be seen in the same light as the V10 firms - never going to happen regardless of what initiative you take. The splitting of the review periods was always seen by associates as giving the firm two opportunities to let people go. Milbank is also known to have HR and partners peruse these boards to put the positive spin on things and state the party line.
69 is a hack
cool out?
Milbank is so TTT - anyone ever notice that their DC associates went to total TTT schools (American, Syracuse, New York Law, UC Hastings, UMaryland, etc.)??
Milbank's excellence initiative pretends to train people up but actually it's just a PR/ feel good thing that they have to make associates appreciate the "training". But the partners actually don't care. My friend used to tell me about these training programs eg business development and then the partners are like 'well you don't need to do that, just work, you're not senior enough'. I wouldn't be surprised about stealth layoffs - there's reasons why MB were hiring a lot of foreigners and also not trully providing training. It's because they have a terrible retention rate (many people who leave on their own accord because the partners are nuts or are laid off quietly due to poor performance), so there's no point in training them. In any case, MB has good PR but if you ask around... it's one of the meanest and psychotic firms around.
Milbank TTTweed. 78- right on target. It's a question of leadership.
Stealth layoffs?
Women, Aussies, Asians...
Milbank TTTweed...
5 - why do you say Milbank is racist? I know Dewey is racist but I haven't heard anything re Milbank.
QUINN REMAINS