First

boring....

ouch. how does a staff atty get a new job? small firms will look at them and think "bottom of the biglaw totem pole.. worst of all worlds.. can't do anything big picture.. can just handle little pieces of glorified para work. big firms will just look at them and say "we're laying off regular associates left and right, what do we need you for?"

The ship be sinking...

The ship be sinking...

Good luck to the recently unemployed. Everything is about the market.

LW is on the same company as Dechert. LOL

the quarterpounder, it's cheese and beef and cheese and that's what's up.

Accoding to Decher's own website, they have 72 staff attorneys. 10 =! 1/4 of 72.

According to Decher's own website, they have 72 staff attorneys. 10 =! 1/4 of 72.

According to Dechert's own website, they have 72 staff attorneys. 10 =! 1/4 of 72.

6- at this point it's fair to say "The ship be sunk..."

11/12, you're a moron. 10/72=.0138 whereas 1/4=0.25..thus, 10/72 =/=1/4.... instead of law school, perhaps you should have revisited elementary mathematics.

11/12, you're a moron. 10/72=0.138 whereas 1/4=0.25..thus, 10/72 =/=1/4.... instead of law school, perhaps you should have revisited elementary mathematics.

THE END IS NEAR!!! REPENT!!!

Yeah, losing a staff attorney job at a shitty firm like dechert has to be a disaster - but you were already living a horrid life. the real problem is that you cant change industries

The market will provide...

It's 72/10, not 10/72.

The truth is that Staff Attorneys can often do more than junior associates. Many Staff Attorneys used to be associates somewhere else, so at least they have some experience.

Remember that biglaw is up or out. There aren't enough in-house and small-firm gigs for everyone that doesn't make partner.

"bottom of the biglaw totem pole.. worst of all worlds.. can't do anything big picture.. can just handle little pieces of glorified para work."

#4, you just described biglaw "regular associates."

FWIW here is what the government sees looking into the future (these numbers are being used to test which banks might fail):

Best Case:
-2009 GDP -2.0%
-2009 unemployment 8.4%
-2009 housing prices : 14% decline
-2010 GDP +2.1%
-2010 unemployment 8.8%
-2010 housing prices : 4% decline

Really Bad Case:
-2009 GDP -3.3%
-2009 unemployment 8.9%
-2009 housing prices : 22% decline
-2010 GDP +0.5%
-2010 unemployment 10.3%
-2010 housing prices : 7% decline

19, no it's not

14/15

Elie is the one that said 1/4 of the Dechert staff attorneys were getting laid off. 11/12 was probably pointing out that, based on the numbers on the website, Elie is wrong. Maybe you should stop being a dumb fuck.

11 -- 10 != 82 / 4. Good point nonetheless. Carry on.

The truth is that Staff Attorneys can often do more than junior associates. Many Staff Attorneys used to be associates somewhere else, so at least they have some experience.

Remember that biglaw is up or out. There aren't enough in-house and small-firm gigs for everyone that doesn't make partner.

I think big firm layoffs have run 8/10ths of their course... The end is in sight.

20/26 = staff attorney

28 = administrative assistant

The numbers I'm getting say they have a little more than 40 staff attorneys. Those numbers could be wrong, but I'm inclined to go with actual people instead of numbers pulled off of a firm website.

That said, I'll try to clear up this conflicting information.
--Elie

Speaking of market...DO A POST ON THE NALP FIGURES. 2L hiring down 33%+

Sad how the layoff posts are becoming increasingly succinct:

__ staff and __ attorneys laid off at ___________. Best of luck to the newly unemployed.

Comments 1-10 reserved for those who are, think they're, beleive they ought to first.

11-20 will find a variation of TTT.

1-2 substantive comments on the firm in question.

UPENN STATE. philly office. ohhhh... whats up now!

32-Shut up.

21-30 will point out typos - "beleive" ???

How long till firms realize they will have to actually cut billing rates instead of just freezing salaries and conducting layoffs?

First, best of luck to those who were laid off. This is a tough environment and we should all support our fellow bar members.

Second, the interesting thing about this news is the timing. Why didn't Dechert do all attorney layoffs two weeks ago, instead of releasing bad news twice? This suggests that there was further evaluation and a determination that additional cuts were necessary.

My two cents.

Staff attorneys may be "the bottom of the big law totem pole;" nevertheless, I would rather be a $100,000+ per year staff attorney than an unemployed mid-level associate. Try paying those student loans with your severance and $405/week New York State unemployment check.

In this economy I do not think anyone should gloat. Just be happy to be employed.

To those who wish to be haters:
Be careful who you step on on the way up. You may meet them on the way down.

- a so-called bottom of the big law totem pole staff attorney -

36, firms are cutting billing rates -- it's just in the form of discounts and 2008 rate freezes for most clients.

My two cents.

Staff attorneys may be "the bottom of the big law totem pole;" nevertheless, I would rather be a $100,000+ per year staff attorney than an unemployed mid-level associate. Try paying those student loans with your severance and $405/week New York State unemployment check.

In this economy I do not think anyone should gloat. Just be happy to be employed.

To those who wish to be haters:
Be careful who you step on on the way up. You may meet them on the way down.

- a so-called bottom of the big law totem pole staff attorney -

40 you idiot - this entire post is about staff attorneys getting laid off. why are you pretending like staff attorneys don't get laid off?

this entire post is horrible news for UPenn State. the grads from their satellite campus in philly almost all rely on SWeet staff attorney gigs at biglaw. those jobs are what keep UPenn State employment stats high enough to maintain ABA accreditation.

the ship be sinking.

How long till firms realize they will have to actually cut billing rates instead of just freezing salaries and conducting layoffs?

Anybody else out there getting the idea that this Friday is going to be UGLY? Gonna be a long day for Elie and Dave...and everyone else. Good luck in advance.

Well, we're all F'ed because by the end of next year, anyone still employed by biglaw will be looking at 80k/year base.

anybody know Dechert's PPP for 2008, or when they will release that?

46, it's already been released. Something in the range of $2.15 million, down ~10%.

To 41

"40 you idiot - this entire post is about staff attorneys getting laid off. why are you pretending like staff attorneys don't get laid off?"

I will refrain from an ad hominem attack.

I think you missed my point. I do not think that staff attorneys are impervious to lay offs. In fact, I think that we all are vulnerable. My statement was in response to 4's comment about "bottom of the totem pole staff attorneys." I understand my role/place. I want to build a legal career and wish the best for my colleagues (I know that sounds trite).

I think that some people post to this site just to hate.
I was just trying to make a constructive point.

- a so-called bottom of the totem pole staff attorney -

To 41

"40 you idiot - this entire post is about staff attorneys getting laid off. why are you pretending like staff attorneys don't get laid off?"

I will refrain from an ad hominem attack.

I think you missed my point. I do not think that staff attorneys are impervious to lay offs. In fact, I think that we all are vulnerable. My statement was in response to 4's comment about "bottom of the totem pole staff attorneys." I understand my role/place. I want to build a legal career and wish the best for my colleagues (I know that sounds trite).

I think that some people post to this site just to hate.
I was just trying to make a constructive point.

- a so-called bottom of the totem pole staff attorney -

Could some please tell "a so-called bottom of the totem pole staff attorney" to only press "Post Comment" once?

Could some please tell "a so-called bottom of the totem pole staff attorney" to only press "Post Comment" once?

Could some please tell "a so-called bottom of the totem pole staff attorney" to only press "Post Comment" once?

wonder if they will layoff more staff attys

46, 47 -- they played some games with that number. A big part of the "decrease" for 2008 PPP was from shifting something like $25-30m of Q1 expenses into 2008 by doing idiotic things like prepaying rent. They artificially shifted income from 08 to 09 so that the inevitable 09 drop doesn't look as large.

To 41

"40 you idiot - this entire post is about staff attorneys getting laid off. why are you pretending like staff attorneys don't get laid off?"

I will refrain from an ad hominem attack.

I think you missed my point. I do not think that staff attorneys are impervious to lay offs. In fact, I think that we all are vulnerable. My statement was in response to 4's comment about "bottom of the totem pole staff attorneys." I understand my role/place. I want to build a legal career and wish the best for my colleagues (I know that sounds trite).

I think that some people post to this site just to hate.
I was just trying to make a constructive point.

- a so-called bottom of the totem pole staff attorney -

54--interesting, I guess I don't blame them. It's also interesting in the sense that they had a decent year in 2008.

36: to add to what 39 said, also add "agreeing to massive write-offs that they would not have agreed to in days gone by (or that the clients wouldn't have had the nerve to ask for in days gone by)"

22 - You left out the following:

Really, really, really bad case (yet more and more likely):

- CPI Inflation: 1,000%

Big layoffs are coming for Dechert DC in the Spring. The work just isn't there to keep this many people around.

I think that's the general feeling at most firms. There are too many associates and not enough work. We all know what comes next. No firm is going to pay $200k a year for associate that aren't billing.

59, can u elaborate? do u have any basis (like rumors) for DC spring layoffs other than the general lack of work? practice group?

For a GOOOOOD time call Amanda Becker at 213-229-5303.

Sounds like Dechert DC's next hit is coming sooner than springtime...