FirsTTT

Almost first. : (

"The firm just announced that 45 associates and 68 staff:"

Nice, Elie. You managed to forget "it is laying off" from a post about layoffs.

"The firm just announced that 45 associates and 68 staff:" The firm just announced what Elie? I think you are missing a a few words. Way to read your posts.

fewer than i thought. i'm glad all the layoffs were deemed economic and not performance.

let's hope that first years are safe too.

*uh ohs*

what's with those bay area firms...they seem to be hit worse than nyc?

-nervous T-10 1L
4 interviews
3 offers
1 sa position

At least they have the courage to publicly admit the layoffs and do not hide behind stealth layoffs, as so many of the so-called top-tier Biglaw firms.

Never heard of this firm, but I feel bad for everybody suddenly jobless. Best of luck.

How will this affect the alleged Cahill layoffs?

"what's with those bay area firms...they seem to be hit worse than nyc?"

But it's still nothing compared to the bloodbath in Chicago. Chicago firms are fairing much, much worse than anywhere else--just ask Elie.

And, the Bay Area being hit hard is just an illusion, anyway--from prior comments, we KNOW that Tech isn't being hit as hard as Wall Street. This must just affect the WSGR finance and securitization practices, since Tech is doing so much better (not well--just better).

What do you mean you never heard of this firm? Been living under a rock? Google it. Always in the news

Over/under on how many days until Latham announces layoffs

DAMN, that's about 10% of their worldwide associate headcount.

Ask not for whom the bell tolls...

9: you've never heard of WSGR? even i know who they are and i'm a stupid 1L. they are the largest firm in silicon valley.

-nervous T-10 1L
4 interviews
3 offers
1 sa position

What percentage of their associate ranks is this??

You've never heard of Wilson Sonsini? They have been a major player ever since the 1990s dot com boom.

I heard small scale layoffs were going on for a few months already, with a few stealth (i.e. performance based) included. I wonder if they added those numbers to the total...

Just heard that Cahill is looking to take a 15% hit in Associates; 10% in staff.

anyone know the breakdown of laid off atty's practice areas?

What do you mean you never heard of this firm? Been living under a rock? Google it. Always in the news

This is in addtion to at least as many associates who've been let go based on "performance" since October. WSGR invented stealth layoffs in 2002.

-9, Wilson is really big in Silicon Valley.

13

2 days after K&E.

THE LIST: This list does not include "redeployments," mergers, staff, or staff attorneys.

Announced | Firm | Location | Total | "Review-Based"? | Acknowledged?
1/11/2007 Kenyon & Kenyon US 16 No Yes
10/1/2007 Thacher Proffitt & Wood US 24 No Yes
10/17/2007 Kirkland & Ellis Chicago 6 to 8 Yes No
1/10/2008 Cadwalader, Wickersham & Taft Charlotte 9 No Yes
1/10/2008 Cadwalader, Wickersham & Taft NYC 26 No Yes
2/14/2008 Winstead PC Dallas ~3 Yes Yes
2/29/2008 Dechert US 13 No Yes
3/20/2008 Thelen Reid Brown Raysman & Steiner US 26 No Yes
4/4/2008 Dewey & LeBoeuf Jacksonville 10 No Yes
4/4/2008 Dewey & LeBoeuf Hartford 22 No Yes
4/4/2008 Dewey & LeBoeuf Austin 16 No Yes
4/25/2008 Sutherland Asbill & Brennan Atlanta 8 Mix Yes
4/25/2008 Sutherland Asbill & Brennan DC <7 Mix Yes

13-

Latham is already conducting stealth layoffs. They started on Friday and are still happening today. Check the most recent comments on the Latham bonus post.

LIST OF FREEZING SHAME:

Arent Fox
Arnold & Porter
Chadbourne & Parke
DLA Piper
Dorsey & Whitney
Fulbright & Jawoski
Goodwin Proctor
Latham & Watkins
Mayer Brown
Morgan Lewis
Orrick
Perkins Coie
Sheppard Mullin
Sidley Austin
Sonnenschein
Steptoe Johnson
Wilson Sonsini

5/12/2008 Paul Hastings US 22 Yes Yes
5/28/2008 Sonnenschein Nath & Rosenthal US 37 No Yes
6/5/2008 Blank Rome Philadelphia 6 Yes Yes
6/5/2008 Blank Rome NYC 2 Yes Yes
6/5/2008 Blank Rome DC 1 Yes Yes
6/11/2008 Thacher Proffitt & Wood US 36 No Yes
6/23/2008 Powell Goldstein US <10 No Yes
7/1/2008 Patton Boggs Dallas 4 Yes Yes
7/1/2008 Patton Boggs US 5 Yes Yes
7/14/2008 Pillsbury Winthrop Shaw Pittman LA, SF, San Diego 15 Unk No
7/16/2008 Pillsbury Winthrop Shaw Pittman East Coast <10 Unk No
7/30/2008 Cadwalader, Wickersham & Taft NYC, Charlotte, London, DC 96 No Yes
8/4/2008 DLA Piper London 1 No Yes
8/6/2008 Sullivan & Worcester Boston & NY 7 Yes No
8/12/2008 Simpson Thacher & Bartlett global 30 Yes No

8/21/2008 Morgan & Finnegan NYC ~4 No Yes
9/22/2008 Freshfields Bruckhaus Deringer unknown <5 No Yes
9/25/2008 Heller Ehrman US ~600? No Yes
10/2/2008 Sonnenschein Nath & Rosenthal US 25 No Yes
10/14/2008 Clifford Chance NYC & DC 20 No Yes
10/20/2008 Dewey & LeBoeuf Charlotte 8 No Yes
10/20/2008 Katten Muchin Rosenman US 21 No Yes
10/21/2008 Jenner & Block US 10 No Yes
10/22/2008 Dechert US 10 to 30 Yes No
10/23/2008 O'Melveny & Myers LA 5 Yes Yes
10/27/2008 White & Case Milan 14 No Yes
10/28/2008 Thelen Reid Brown Raysman & Steiner US ~500? No Yes
10/30/2008 Bell Boyd & Lloyd Chicago 10 No Yes
11/3/2008 McKee Nelson NYC 13 No Yes
11/3/2008 McKee Nelson DC 4 No Yes

The only good things I ever heard about WSGR were from people who left, people trying to leave, or a firm spokesperson. Clown central.

11/11/2008 Loeb & Loeb US 8 Yes Yes
11/11/2008 White & Case US, London 70 No Yes
11/12/2008 Moore Van Allen Charlotte 20 No Yes
11/13/2008 Orrick, Herrington & Sutcliffe US 40 No Yes
11/14/2008 Greenberg Traurig NYC unk No No
11/19/2008 Brown Rudnick US 20 No Yes
11/20/2008 Mayer Brown US 33 No Yes
11/20/2008 Squire Sanders US <30 Yes Yes
11/21/2008 Dewey & LeBoeuf NYC 5 to 11 Unk No
11/21/2008 Fried Frank US 15 Yes No
12/1/2008 Fried Frank US 15 Yes No
12/3/2008 Reed Smith UK 11 No Yes
12/4/2008 Proskauer Rose US 35 No Yes
12/4/2008 Dewey & LeBoeuf NY 11 No Yes
12/4/2008 Dewey & LeBoeuf LA 1 No Yes

12/5/2008 Seyfarth Shaw US 30 No Yes
12/10/2008 Pircher Nichols & Meeks LA, Chicago 8 No Yes
12/10/2008 Howrey Unk ~10 Yes Yes
12/15/2008 Wolf Block US 15 No Yes
12/15/2008 Drinker Biddle US 20 No No
12/17/2008 Gunderson Dettmer US Unk Yes No
1/7/2009 Kirkland & Ellis Chicago 15-25 Yes No
1/7/2009 Dickstein Shapiro NYC & DC 10 No Yes
1/8/2009 Parker Poe NC/SC 13 No Yes
1/8/2009 Baker & McKenzie NYC 6 No Yes
1/8/2009 Clifford Chance London ~80 No Yes
1/8/2009 Cahill Gordon Unk Unk Unk No
1/9/2009 Wildman Harrold Chicago 10 Yes Yes
1/9/2009 Loeb & Loeb US 4 Unk No
1/13/2009 Dewey & LeBoeuf LA 8 Unk Yes

LIST OF FREEZING SHAME:

Arent Fox
Arnold & Porter
Chadbourne & Parke
DLA Piper
Dorsey & Whitney
Fulbright & Jawoski
Goodwin Proctor
Latham & Watkins
Mayer Brown
Morgan Lewis
Orrick
Perkins Coie
Sheppard Mullin
Sidley Austin
Sonnenschein
Steptoe Johnson
Wilson Sonsini

12 - I'm a NY litigation associate, and only deal with NY lit firms. Why would I have heard of a San-Fran based corporate firm? I don't check the Vault rankings to see who has the biggest penis.

1/14/2009 Foley & Hoag Boston 17 No Yes
1/16/2009 Blank Rome NYC & Philly >/=12 No Yes
1/21/2009 Cooley Godward US 52 No Yes
1/22/2009 Cadwalader NYC 3 Unk Yes
1/22/2009 Cadwalader Charlotte 6 Unk Yes
1/22/2009 Allen & Overy NYC 3 Yes Unk
1/26/2009 Wilson Sonsini US 45 No Yes

At least they were classy about it.

At least they were classy about it.

8,

Announcing layoffs to the public helps no one, neither the partners in the firm nor its associates.

Stealth layoffs are economy-driven terminations that are masked as having an origin in job performance.

But whether layoffs are conceded to be economy-driven or are characterized sa perforance-based, it is better for all concerned that it not leak to the public.

Ugh -- Yeah, as a New York guy who doesn't pay any attention to Cali or the tech industry, I'm not familiar with this firm either, but that's a lot of associates to be laying off. It sucks to be looking for a job in this economy -- especially when 60 others are in the exact same boat.

How will this effect the price of beer and pizza at Val's?

Are you going to do a story about Latham?

37,

Which firm's HR department do you work for?

WSGR is a toilet firm.

WSGR atty here. Word is that a majority of the cuts are taking place in the nation-wide satellite offices. The atty and staff cuts appear to be running across practice areas (with anecdotal evidence telling me that corporate and securities are maybe taking a bigger hit).

First!

at least they acquired some class and didn't claim it was performance-based this time...

"that's about 10% of their worldwide associate headcount."

It doesn't say *associates*, it says *attorneys*. I bet the 45 includes counsel and/or staff/contract attorneys.

"[Latham will announce layoffs] 2 days after K&E"

A perfect reversal of the way things were 10 years ago, when K&E announced salary raises and NYC gross-up bonuses later on the same day that Latham did so. But I bet K&E tries to force people to become BK associates (with attendant class year hits) before non-review-based layoffs.

This round of layoffs amounts to a 6.9% cut of their US attorneys (using latest numbers from NALP).

That's actually pretty conservative on their part, and at least they aren't saying it's "performance based".

Kudos to WSGR for not doing stealth lay offs like other firms who wait until they are called out on this site to admit to it...

Add 1/23/2008 Choate to the list.

This round of layoffs amounts to a 6.9% cut of their US attorneys (using latest numbers from NALP).

That's actually pretty conservative on their part, and at least they aren't saying it's "performance based".

Kudos to WSGR for not doing stealth lay offs like other firms who wait until they are called out on this site to admit to it...

This round of layoffs amounts to a 6.9% cut of their US attorneys (using latest numbers from NALP).

That's actually pretty conservative on their part, and at least they aren't saying it's "performance based".

Kudos to WSGR for not doing stealth lay offs like other firms who wait until they are called out on this site to admit to it...

40 -- what's the story at lw?

More LIST guy, less 1L guy!! Also, less 61, that guy is a huge racist.

WSGR has a NY office.

to 43 - so not many from the palo alto office?

I have been trying to determine in my mind whether nervous 1L is a caricature or an actual person with these actual feelings and reactions. If it is the latter, then it is too bad we are not in high school anymore because I would definitely stuff him in a locker at the earliest possible opportunity.

33-even if you are a ny lit associate, surely you must have heard of WSGR during the HP pretexting stuff, the backdating stories, it is now involved in the dissolution of the Dreier firm (through its NYC office which also has litigators). Like I said, google it and don't be so NY focused...

33-even if you are a ny lit associate, surely you must have heard of WSGR during the HP pretexting stuff, the backdating stories, it is now involved in the dissolution of the Dreier firm (through its NYC office which also has litigators). Like I said, google it and don't be so NY focused...

I have been trying to determine in my mind whether nervous 1L is a caricature or an actual person with these actual feelings and reactions. If it is the latter, then it is too bad we are not in high school anymore because I would definitely stuff him in a locker at the earliest possible opportunity.

51

Layoffs Brah

55:

:( what did i say that was so terrible?

*nervously approaches 55 to give him a high five*

-nervous T-10 1L
4 interviews
3 offers
1 sa position

Where is the Count?

32- add Andrews Kurth to the list of freezing shame
(though it was a slurpee freeze, crosses fingers)

Quick count of associates on WSGR's website I'd guesstimate at 400, plus 20 stubs who aren't admitted to practice yet. I don't know if the website removed the names of those fired today, but if not, then that means 10% of associates were fired today. Eeeeeps!

Err. How do you even go about getting work at this point if you are a laid off attorney?

37 - It is helpful to know which firms are hurting, so law students and laterals can avoid them come recruiting time.

It is also helpful to clients to know which firms will be around after this economic bloodbath is over.

CLS Dean just sent a "1Ls, chill out. You go to CLS. You're going to get a great job" email. Let's see how long it takes Elie to post it. For Lat it would have been 15 minutes.

54 -- There are cuts happening at the PA office, but I was told that the brunt of the cuts were taking place in other offices. Of course I don't have any hard numbers.

66 - Is that the Cooley Law School you're referring to?

It doesn't say *associates*, it says *attorneys*. I bet the 45 includes counsel and/or staff/contract attorneys.
-----
WSGR never had many staff attorneys and the firm doesn't need to announce temp atty layoffs. This is just an incredibly stupid comment. That number of staff layoffs also should indicate they are cutting associates.

19 - Stop making stuff up. At least the annoying Cahill trolls know not to make up lies about the firm -- there's no actual layoffs going on at Cahill other than what was already posted on a few weeks ago. Don't spread rumors that you know aren't true.

F-k. When major CA firms like Latham and WSGR start laying off people and/or doing salary freezes you know we are all f-ked. I knew crappier CA firms like Sedwick were doing layoffs as late as a year ago but now you are seeing it spread to the entire industry.

And the scary thing is that law is a risk adverse profession. Some of these firms probably feel like they were too liberal with raises and hiring the last couple years. They are going to tighten their belts for the foreseeable future. Even if the stock market recovers and the recession is over law firms won't return to their prior drunken state for a long long time. We are all f-ked.

"WSGR never had many staff attorneys and the firm doesn't need to announce temp atty layoffs."

So, WSGR is keeping staff atorneys around while firing associates? Stay classy, Larry Sonsini.

Words have meaning, dude. If it were 45 associates, they'd say associates. There are one or more non-associate attorneys being let go.

Bravo! It's about time! A top firm can look their staff in the eye and tell them the truth!!! And finally it's not just the attorneys they care about! There are plenty of staff that invest their lives in their careers as well. It's about time a firm can finally let people have their dignity in such horror! Skadden Arps, take note!!!!!!! And ATL, please make an effort to press on these firms for information about staffers as well as attorneys! Staffers are invested here too!

Staff associates may have more value than a junior attorney who doesn't know what the hell he is doing but makes more than the staff attorney.

70 - Correct. The layoffs at Cahill haven't happened yet.

72 - Could be non-equity partners.

"What do you mean you never heard of this firm? Been living under a rock? Google it. Always in the news"

I wonder if this is ironic or ignorant given that WSGR took Google public and is Google's outside counsel on most deals.

NY to $90k!!!

WSGR is also Google's outside counsel on most litigation. Even New York litigators must have heard of Google.

72, 76 - WSGR doesn't have non-equity partners or staff attorneys. The memo says they are downsizing associates, support and admin, with 45 attorneys and 68 staff affected. Seems like associates = attorneys and support/admin = staff.

But shouldn't we all be concerned with Buchanan Ingersoll & Puny not being able to pay its shareholders instead of this actual story?

Hey list guy, how about updating for the A&B layoffs

8--WSGR does however have special counsel and of counsel which are non associate attorneys. Likely included in the layoffs.

"WSGR is also Google's outside counsel on most litigation. Even New York litigators must have heard of Google."

Not the ID puds who have time to post here.

MILBANK ALSO FROZE.

you missed the Shearman & Sterling layoffs, but you can just wait and report them when they do it again in a few months.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

MILBANK ALSO FROZE.

Thanks, 87-93, didn't hear you the first time.

Now would be an excellent time to review the definition of "DECIMATION"

http://en.wikipedia.org/wiki/Decimation_(Roman_army)

is it true about Milbank freezing?

Did Milbank freeze?

I wish the gov't would have decimated the banks--taken the ten worst offenders and simply drawn straws to allow one of them to fail by having the others buy the profitable assets. One could argue this happened with LEH (and even arguably WB). But what I really want is for the government to simply say "no" to a firm like Citi or BofA, which they won't, because "What's good for Wall Street is good for Main Street."

Oh, and in case you're wondering, yes, I would probably lose my job if a major commercial bank failed.

Let the banks be decimated!!

Can we get an ATL post on Latham and other firms doing stealth layoffs? There are quite a few reports in comments on this blog and I assume ATL has received some emails with details...

Milbank didn't freeze. no announcement yet on salary.

Rumor has it, Milbank froze their associates salaries.

I dated a girl there once. She tried to freeze my balls with an ice cube. Not cool.

Any news on Milbank salaries?

heard that 3 first year were fired

speaking of Milbank, why hasn't ATL done a story on Milbank TV???? It's a goldmine...

http://www.milbank.com/careers/milbanktv.html

86-- what do you know about Shearman and how do you know it?

Thanks

speaking of Milbank, why hasn't ATL done a story on Milbank TV???? It's a goldmine...

http://www.milbank.com/careers/milbanktv.html

103, three first years where? Latham?

103, three first years where? Latham?

100 -- if you haven't heard anything yet, use your brain and figure out that they froze. They are trying to keep it as quiet as possible, but it's a confirmed freeze at this point, and ATL should be reporting on it.

What's a Milbank?

I wonder why more folks are not offering up a small associate pay cut, across all levels of seniority, in order to save the profession? A tiny 35 percent cut in associate pay would go a long way toward reducing layoffs and improving equity partner morale.

What is the deal w/ Shearman? Did they freeze?

"I wonder why more folks are not offering up a small associate pay cut, across all levels of seniority, in order to save the profession?"

Uh, how does this "save the profession"? I think there will continue to be lawyers whether or not there are *any* associates at the 500 largest law firms. Indeed, there will still be "biglaw" if 90% of current associates loss their jobs. And, even if biglaw disappeared, there still would be lawyers.

Indeed, the disappearance of biglaw might be the best thing for the *profession* of law. Bad for the financial interests of associates and partners, but good for the profession qua profession.

32: Sidley hasn't frozen salaries yet.

"What is the deal w/ Shearman?"

Yeah, what the f-ck is up with that extra a? Don't they know how to spell Sherman?

"What's a Milbank?"

A type of Tweed. It may or may not be related to Boss Tweed of Tammany Hall fame.

111 - Because there isn't enough work to keep everyone moderately busy (and away from spending afternoons on ATL).

114: They haven't raised, either. It's a soft freeze.

113:

http://letmegooglethatforyou.com/?q=sarcasm

-111

Shearman raised salaries. I haven't heard anything about major layoffs yet, however, though late last year some people--low performers in my book--were asked to leave. They weren't progressing towards partner, but I think in most years they would have been kept on.

To the people shocked that somebody didn't know who this firm was:

It's not shocking that somebody who works in NY wouldn't have heard of them. If somebody's not a major player in NYC -- I mean, big time player -- they're not worth paying attention to. How many New Yorkers were even aware that Wells Fargo existed before they bought up Wachovia? I know I thought they dissolved sometime in the 19th century, and was shocked to know that such a firm was still around when I heard they outbid Citi .

All of these non-NY things (California, Chicago, NASCAR, etc.) are so trivial and inconsequential that we really can't be expected to take any notice when they occur. They're only relevant insofar as they have some kind of effect on NYC -- which they never do. I really wish the webspace wouldn't be wasted by Elie talking about the goings-on of third world countries, like California or Illinois or Pennsylvania or Sudan.

111-

From your link: Sarcasm is proverbially said to be the lowest form of wit.

So you can be proverbially said to be the lowest form of commenter.

HTH.

113

I thought 111's comment was pretty funny, but 113's taking the bait was even more funny.

- Not 11

I hope the people that were drinking the LaTTTham "better a salary cut than layoffs" Kool-Aid now see the light. I recall sitting in Ass Comm meetings where it was painfully obvious how determined the firm was not to raise salaries last year. It's no wonder they're leading the race to the bottom. V10. Yeah, right.

111 - Since when is a 35% pay cut "tiny"? You do realize that percentages are out of 100, right?

124-
RTWFP

Latham stealth layoffs confirmed. It's all going to hell, friends.

119 - RE: Shearman layoffs. it wasn't just "low performers", but thanks for your comments unnamed partner.

It was a rolling stealth layoff, starting last summer, reaching its peak in November. To quote one S&S HR person it was a "bloodbath."

And here are two clues as to why it will not stop. First, S&S has put certain people on notice that there will be interim reviews in March (outside the normal 6 month cycle). These people had years of solid reviews. Then in November, S&S sprinkled enough negative comments (some fabricated out of whole cloth) to put these people on notice.

Second, a couple weeks ago the head of litigation told the NY associates that "head count" was high because fewer associates than expected left last year. It doesn't take a brilliant legal mind to read between those lines. You can either leave or we will kick you out.

What the management (using the term generously) at S&S has done is appalling and disgraceful. What I have seen my coworkers and friends go through makes me sick. I, and I bet others, will get the hell out of here as soon as we can.

119 here:

I'm not at Shearman. Not a partner either. I used to be at Shearman and my comments reflected my understanding as given me by several of my old colleagues there.

Sorry to hear you and your colleagues have had a rough go of it. Shearman management doesn't make the wisest decisions, as evidenced on multiple occasions. I was hoping things had changed and they could turn the corner.

Best of luck to you going forward.

What about Skadden? Why isn't it listed? They have fired attorneys, legal assistants and support staff.

What about Skadden? Why isn't it listed? They have fired attorneys, legal assistants and support staff.

to 24: maybe it would be more helpful at this point to list the firms that have NOT laid off.

The Employment Law dept. as WSGR was hit also.

The Employment Law dept. as WSGR was hit also.

Just watched MilbankTV. Absolutely amazing! What the f' were they thinking with that? The associates all yammering about living near work and Tribeca - sickening!!! Almost spit out my Tweed all over the computer...

Whoever is keeping the list, Alston & Bird froze salaries and definitely goes on the list of shame. Firm is also firing associates and staff left and right. Very scary place to be right now as the partners are in a panic over lack of work.

Alston & Bird? I've never heard of that firm, but my sympathies go out to all the newly unemployed associates. Best of luck finding new work.

WSGR just layed off a pregnant second year associate and they knew she was!

WSGR just layed off a pregnant second year associate and they knew she was!

137-138-is this true? How do you know? Who else was laid off?

Hey Nervous Top 10 1L:

welcome back. I voted for you.

Fellow wolverine
:)

Not to kick a man in the crotch when he's down, but many people who know the firm's work will not touch WSGR attorneys with a ten foot pole. I feel really sorry for the layoff victims here - after Heller and Thelen, the Cooley layoffs, and big layoffs at Cisco, IBM, Intel, and other valley companies, and having WSGR's rep like a noose around their necks, many of these folks will be on unemployment for a long time.

141, how about kicking you in the head for being an idiot.

Wilson always fires people in the fall, even in strong financial years when the firm is hiring, and they fire aggressively (anyone who is not cut out for partner or of counsel). So those weren't layoffs, they were the normal course of business.

I am a former WSGR associate and I have at least four good things to say about it: (1) John Roos, the chairman, is awesome (hence, no stealth layoffs); (2) unlimited pro bono and recognition for people who do it; (3) generous bonuses; and (4) really not a sweatshop (I billed under 2K hours one year, no one criticized me, and I still got a full merits bonus). Honestly, the only complaint I have about it was that the cafeteria was expensive and disgusting.

I left WSGR because my husband accepted a new job in a different town, not because I didn't like the firm. It was a good place to work and I wish them well in the coming year.

Add Fish & Richardson to the list that froze salaries. The memo was sent close of business 1/22. I'm suprised that the salary freeze and the rolling stealth layoffs has not made on here.

Now that everyone seems to be spilling dirty laundry, Simpson Thacher performed significant stealth layoffs. I saw some rumblings in the comments about a month ago, but these rumors were not reported on. They are true.

Any Stealth layoffs at Milbank?

and by spilling, I mean airing. Yes I'm TTT, etc.

- 145

F&R layoffs are true. Proof will be posted in coming weeks.

If any of you know of any IP litigators (preferably patent) looking to relocate to Boise, Idaho, please email dutroupe@yahoo.com.

Not surprising. Any firm whose business model is based largely on venture capital is going to have problems when capital isn't being ventured.

Good luck to those who were fired.

Have these layoffs happened or will they be rolled out the next few days or weeks?

145 = LW associate who is upset that his firm is the only V10 doing layoffs.

Anyone know whether Milbank is freezing. From what I understand, they haven't even announced. Have a lot of other firms not announced?

If what 100 says is true (which I tend to believe myself), ATL please reach out to these firms trying to keep it "hush, hush", report on it, and make some noise.

In Europe, "biglaw" firms don't exist. Most firms there are what we would consider small firms here.

Nervous T-10 1L to Swirlie.

LAYOFFS? Don't talk about -- LAYOFFS?!?!? You kiddin' me? LAYOFFS???

155: Isn't London a city in Europe? I thought the Magic Circle firms were pretty large.

151: Both. It's happened and will continue to happen. Hence, it's called "rolling stealth layoffs."

i too have heard of the pregnant associate being laid off. also heard that most of the people being let go are women.

As everyone is well aware, we are in the midst of an unprecedented global economic crisis that is having far-reaching effects on our clients as well as the legal industry. Fish & Richardson remains financially strong, and we are fortunate to have the practices, talent, and client relationships to weather these economic times. The firm is not, however, immune to the effects of the worsening economy and its attendant uncertainties. In our budgeting and planning for 2009, which began in mid-2008, we worked diligently to plan for challenges in 2009, and as conditions worsened late last year, we took numerous actions to meet these challenges, including building conservative assumptions into our budgeting that contemplated these difficult economic times, disciplined planning for discretionary expenses, more revenue goals than originally planned, and other measures. We considered, and at that time rejected, a freeze of non-principal legal staff salaries at 2008 levels.

The Management Committee, in the course of reviewing the most up-to-date information and economic forecasts in 2009, now believes that a salary freeze for 2009 needs to be considered given the uncertainties in the economy and their potential impact on our business. Accordingly, January pay for non-principal legal staff (this includes associates, technology specialists, counsels, staff attorneys, litigation technology analysts, and patent agents) will be at the same levels as those individuals were paid in 2008. For example, an A3 associate who advanced to an A4 in 2009 will be paid at the A3 salary level in January. A final decision will be made within the next several weeks, and we will take this time to review input from all sources in the firm, in a deliberative way, so we can fairly assess and weigh the factors that bear on this decision. We would of course like to avoid a freeze altogether, and our evaluation of the situation will keep that option on the table. But prudence in this climate requires that we consider other possibilities as well, including a deferral of consideration of salary increases until later in the year when we have a clearer picture of firm performance.

I want to emphasize two points: (1) in the event of a freeze, firm management will reserve a substantial discretionary bonus pool to reward meritorious performance; and (2) in the event of a decision not to freeze salaries for 2009, everyone affected will receive their new 2009 salaries retroactively to January 1.

PJD

157....right on.....

157....right on.....

157....right on.....

Is it true that one of the people laid off was a junior tax partner?

164 NAILED IT!

(wonder why the nailed it fad from a few months ago died off)

Kirkland canned first year associates, how come no one mentions that.

Are there really lawyers out there who haven't heard of WSGR? My guess is no. Perhaps law students or pro doc reviewers (not that there is anything wrong with that). Go ahead and Google them. I believe they are the firm that took Goolge public and still represent them more than any other firm.

Some good people got let go today. Best of luck to my WSGR co-workers who were affected.

WSGR SOLD US OUT.

167- Because if a first year was fired 3 months in, they deserved it (e.g. not a stealth layoff)

What could a stub possibly do to deserve being fired within 3 months, other than steal, hit their secretary, or bring whores back to the office?

Stubs dont have any partner going to bat for them when the group/firm is deciding who to lay off. Partners dont want to lose the associate they work with, but nobody cares about the new guy.

Give WSGR some credit. They seem to have learned from their terrible mistake during the last recession while Shearman & Sterling seems to be making the same mistakes all over again. I read somewhere that the real definition of stupidity is a person who doesn't learn from his mistakes.

For the junior folks' benefit, during the last recession, WSGR fired literally hundreds of associates (their total headcount dropped from >900 to about 550 in two years). Larry Sonsini repeatedly said during this period that WSGR had never done an economic layoff and that all of the departures were performance-related, which was obviously false on its face.

WSGR paid an enormous price in lost reputation and credibility for Larry's lack of candor. Give John Roos credit for learning from Larry's mistakes.

As for Shearman, it seems S&S management will never learn.

Actually 174 is partially right. They had several rounds of layoffs 2000-02 and only after much criticism did they admit that the final ones were economic. I suspect they learned from that experience.

172 - good point, although if a stub were to do all 3 of those things, em would reveal emself to be so balls-out that promotion to equity partner would almost be assured.

I believe the "stubs" in this case failed the bar exam

64 - Good f*ing question!

132-133

Are you sure it was the Employment Law group, and not Employee Benefits/Compensation?

is it true that everyone in sec lit group survived?

179 - Not EB&C, they didn't lose anybody.

160 - Of course it was mostly women. Women make up about 90% of the support staff. Don't make it sound like women were targeted, because that isn't true.

181-i was not talking about the support staff. most of the fired associates were women. coincidence? (yeah, right!)

I also heard the VC group is hiring!?! how is that possible?

181 - I also heard they laid off an unproportional amount of lawyers with curly hair and bad teeth.

I heard they issued capital calls to income partners to pay the severance of associates asked to leave.

http://endofesq.com/?p=816

184, sounds like the only reason you still have your job is because you took good care of your teeth.

i heard three stubs were fired some failed the bar

Any word on the severance?

In response to a previous post that WSGR has class - all I can say is I didn't know the buffoons in WSGR HR read this blog. What was not posted above was that a couple of weeks before this economic layoff, they did "performance-based" layoffs where in one office the same number of associates were terminated for performance the previous month as there were for economic layoffs last week.

Ostensibly, they didn't want have the series of economic layoffs to be too large as to be demoralizing nor did they think they could get away with this number of layoffs to be attributed to performance as that would be too obviously false.

WSGR had a good strong year and this move, as told by the managing partners, was to prepare for a weak one.

Whatever your economic philosophy, that has to be a real sting to those mid-level associates and long-term staff members who were let go for these economic reasons and who had worked their butts off to make WSGR strong, so that the partners could preserve their own profit margin and make their firm secure for the newer, last-hired and thus cheaper employees. I suppose this is how they go about "rewarding strong contributions and performance" and showing that they are "extremely grateful."

189-can you elaborate? Is this really true? Stealth layoffs before the economic layoffs? what departments? Palo Alto office? And when?

3 months severance for economic layoffs - 2 months for performance layoffs - none for smashing a partner's face in

john roos looks like krusty the clown