International Layoff Watch: Good News! Cadwalader Only Lays Off 16 in London
You didn’t seriously think we’d get through an entire day of layoff stories without Cadwalader getting into the mix? Legal Week is now reporting that Cadwalader has decided to send 16 of its London employees into “redundancy consultation”
The firm said three lawyers, three paralegals and 10 support staff are subject to the redundancy consultation.
A statement read: “Cadwalader Wickersham & Taft has today launched a redundancy consultation with certain employees in its London office, made up of both lawyers and support staff. We regret the potential loss of these talented professionals who have served the firm well. The firm remains committed to London and rebuilding the office.”
Only 3 attorneys! And only 13 staffers!
It’s probably the best news we’ve had all day.
Cadwalader set to cut staff from London office [Legal Week]
Earlier: Prior ATL coverage of law firm layoffs
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Comments
MILBANK ROCKS!!!! (PLEASE FOR THE LOVE OF GOD MILBANK DONT START LAYING PEOPLE OFF)
First.
Elie, the sarcastic "Good News" is a pretty dick thing to say, especially for the 16 people who just lost their jobs. It could be worse, but come on.
WTF is going on today?
first to push cwt 05 female down the international stairs, bend her over and smell the juicy insides.
83rd!!
Agree with 3.
Seriously - is BIGLAW as we "knew" it over?
WOW! Even if this isn't as bad as it could be, WORST DAY EVER!
3 and 7 are idiots and should be social workers instead of lawyers.
5: they're doing this before they have to issue mid-Feb paychecks
A bunch of partners just left the London office, no big surprise that they'd fire some associates and staff over there.
Did I miss the introductory welcome to BigLaw memo that mentioned that February 12th is "apocalypse day?"
I mean, come on. I understand not wanting to do this on Friday when people might be out of the office. But is EVERY firm going to make layoffs right before President's Day / Valentine's Day?
Only good news I can think of -- Maybe we'll actually get a table off the Citronelle wait list for Saturday if enough people are too depressed to go.
"Hey we need to get rid of 3 associates. Let's just call them performance based and avoid the PR hit."
Say what you will about those guys but they're a lot more humane than the firms engaging in stealth-firings.
Does having to submit to a "redundancy consultation" necessarily mean that Cad is laying these people off?
"It's probably the best news we've had all day. "
Sadly, this is true.
LAYOFFS?!? Don't talk about LAY...
Ah, screw it. Its Cadwalader. Given CWT's status as America's Firingest Law Firm™, even I, Jim Mora, am not surprised by this TTT maneuver.
Elie, you could learn to be a little less flip about these job announcements. How to put it in terms you understand... hmm, what if M&M Mars laid off their entire Twix production staff? Or what if the FDA outlawed chocolate covered corn dogs? How would you feel then? That's how these people losing their jobs feel, only worse. Have some respect, asshole.
Hey 12, ust because a lot of layoffs happened today doesn't mean its over by tomorrow. Look for some more announcements Friday and next week.
I agree with @5.
Ellie for President, yay Ellie yay
I now agree with @4. Damn you moderator.
Ellie yay, Elie boo
Ellie yay, Elie boo.
"Redundancy consultation" is the nicest way I have ever heard of for telling someone they're canned.
Ellie yay, Elie boo.
Ellie does not feel bad for those that have been laid off because he eats them after they get let go. They are nothing but soylent Green to him.
Agree with 10. Are 3 and 7 new here?
The ship be sinking...
Dear #16: I love you.
Michael Ray, sit down and have a Gatorade.You must be exhausted today.
Their statement is very genuine and honest: We regret the potential loss of these talented professionals who have served the firm well.
Unlike Latham & Watkins, who will slap you on your face and blame you for every fault they can imagine.....and told the media that it is all "performance-based" instead of lay-off
Clifford Chance London laid off a ton of people yesterday - no post on that.
31- Latham did that so that in a month or two they can claim to lay off only 150 people instead of 300
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"Only 3 lawyers" sounds different when you realise that after the recent departures they only have 12 associates in the London office . 25% of lawyers (and probably more than that of support staff) sounds a lot worse.
13, 14 & 24 - English associates are on employment contracts with a three month notice period. It's fairly difficult to get rid of them for performance reasons, and there's a statute dealing with "redundancy" decisions. The individuals concerned are "provisionally selected for redundancy" and then have a consultation period in which they are told why they were selected, why there is no other position for them in the office, and then given an opportunity to "comment". And then told, guess what, you are in fact being terminated. By way of example, after the "redundancy consultation" at CWT London in August, only one person ended up kept on (part time) after ten were selected for "redundancy consultation". It's a bit of a joke, but required under English law. The process takes 2-4 weeks, though, and you still get paid during that time. And then you get paid for your three months notice period.