Management at Latham & Watkins continues to be incommunicado regarding the firm’s impending layoffs that we reported yesterday. Nonetheless, Above the Law has come by some information that could be positive for sleepless Latham associates.
Multiple sources have told ATL that Latham could be offering a six month severance package to the attorneys the firm is about to fire.
Of course, we don’t want to get everybody’s hopes up. As one source says:
I’d be shocked if that actually happens, given how bastard-y Latham been lately, but who knows?
But there are persistent rumors that Latham will try to combat the overwhelmingly negative press the firm has received by offering a soft (ish) landing to the departed.
Of course, the most humane thing to do at this point would be for Latham to make a public announcement and euthanize terrified associates.
Commenters and tipsters weigh in after the jump.
Could this whole thing have been handled any worse? I seem to remember the higher-ups touting we were the best-managed firm in the universe. Would you please just do the axing tomorrow and get it over with so that the suspense is done with and people – both fired and not – can get back to a semblance of normal lives.
The feeling at Latham reminds me of the movie Titanic. You’re standing on deck seeing those that got out earlier sail away on their lifeboats while realizing there are no lifeboats left. You think to yourself, “Uh-oh, guess I have to hope this bad boy stays afloat,” while you have a sinking feeling about it….
If you just want Latham to get it over with, you might not like this next piece of news.
A few sources at Latham are hearing that the firm might delay their official layoff announcement until next week. One tipster believes the delay has something to do with the six month severance offer. The tipster believes that the firm wasn’t planning on making such a generous severance offer, until the overwhelmingly negative press they received yesterday. With Vault Surveys sitting on desks right now, the thought is that the firm can preserve some of its “nice place to work” reputation by doubling the standard severance package. Putting the revised package together could take time, pushing the layoff announcement back into next week.
So it could be a long weekend for Latham associates.
One commenter puts things in a fairly reasonable perspective:
Kent Brockman: Professor, without knowing precisely what the danger is, would you say it’s time for our viewers to crack each other’s heads open and feast on the goo inside?
Professor: Yes I would, Kent.
However and whenever it goes down, we fully endorse this plan:
Someone needs to chronicle LW’s shenanigans with audio/video evidence and post it somewhere. All of you folks on the chopping block should bring your smartphones with video recorders to the conference room Friday and tape the lies/excuses that Latham shells our at Friday’s layoff meeting. You should also keep your phones on your desk and ready to press record in the event the partners and AssComm members do office-to-office firings. This travesty needs to be thoroughly documented so future generations of Biglaw recruits will know to stay away from TTT shops like Latttham. This aggression will not stand!
Information yearns to breathe free.
We’ll keep you posted.