Morrison & Foerster Layoff Follow Up
The legal community is still digesting the news Morrison & Foerster’s layoffs. While a lot of people are asking what the news means for the financial health of the firm, MoFo has taken the laudable step of reaching out to their incoming summer associates.
The firm sent their summers the statement about the layoffs that we posted on ATL last night. But then the firm tried to reassure summers about their job security:
I write to confirm that this reduction in attorney staffing will not affect your joining us as a summer associate this summer. We are a financially sound firm with a strong and diverse practice, having weathered the challenges of 2008 better than a number of our competitors. You can expect excellent work and mentorship opportunities during the summer.
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This is a nice note given the fear that gripped incoming MoFo summers last night.
But you have to wonder if that it was a necessary or even truthful swipe to say that the firm had “weathered the challenges of 2008 better than a number of our competitors.”
Let’s check the video tape (and take a poll) after the jump.
Orrick laid off 40 people, O’Melveny laid off only a few people, Gibson Dunn hasn’t laid off anybody to our knowledge.
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But 53 associates and 148 staffers is a huge number to put up on the board.
Then again, there is Latham doing Latham things, and former Bay area powerhouses Heller and Thelen don’t even exist anymore.
Maybe it’s time for a new California power rankings? Which firm would you say is doing the best during these difficult economic times?
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Earlier: Nationwide Layoff Watch: Morrison & Foerster Suffers Significant Layoffs (53 Lawyers, 148 Staffers)