Holland & Knight: Latest Firm to Push Back Start Dates
Another major law firm is pushing back the start dates its incoming first year associates. Holland & Knight started informing 3Ls over the phone earlier today.
Above the Law obtained this statement from Adolfo E. Jimenez, the recruiting partner at the firm:
The start date for our incoming entry-level associates will be January 11, 2010, instead of early or late fall. The firm will pay the incoming class members signing bonuses, study stipends, bar expenses and/or moving expenses as indicated in their offer letters. Although we hoped to avoid extending the start date, this was a necessary action given the current economic climate in the legal industry. We are also committed to an eight-week summer associate program.
The firm will not be giving out the kind of huge, $75,000 advances like we’ve seen from Latham & Watkins or Orrick.
Still, incoming first years can’t be all that surprised. Last month, Holland & Knight laid off 243 people, including 70 attorneys. In the face of that, some 3Ls will just be happy to have jobs lined up with the firm regardless of when they can start.
In the meantime, we’re not entirely sure what incoming first years are supposed to do for food and shelter between June 2009 and January 2010. But, at least now they know what they are looking at and can try to plan accordingly.
Earlier: Holland & Knight Confirms 243 Layoffs
Prior ATL coverage of start dates
(56) Comments
Comments
"Major Firm" should be in quotes.
Hasn't January 11, 2009 already passed or am I living in another universe?
these balls are making me thirdsty
Where is The Dow is Up Guy on this?
think time machine
LOYOLA 2L COME BACK AND TEACH US HOW TO BE AN UNEMPLOYED LOSER!
Holland and Knight has no attention to detail, hence the need for deferrals. JANUARY 11, 2010!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!
Jesus, maybe this firm has to move back start dates because they don't know what year it is.
What a TTTrashy firm.
I'm curious if the error (which has been fixed above) was in the H&K statement or if it was just transcription by ATL.
Elie,
You should start posting all your corrections or changes in track form. This way, you and the rest of the world will see all the "stealth editing" that you must do after carelessly posting your stories.
ParaLegal
I believe the typo would be Elie since it is clearly not an image of the actual memo. Who knows though, maybe the firm is retarded and Elie simply transcribed it accurately.
This just doesn't make economic sense. The Dow has been shooting upwards for over a week and they push back start dates NOW? They're going to get burned on this one - the "recession" ended quite some time ago.
They are also delaying people who were supposed to start last year and are currently clerking. No stipend, no salary advance, no signing bonus, nothing.
ELIE = STEALTH EDITOR-IN-CHIEF
Thank you The Dow is Up Guy!
-4
The ship be sinking...
16- Please see post number 12. Thank you.
-4
So did they get any "extra" cash for deferring until Jan?
This breaks my heart.
how much $$ did they get? any additional $$ to help them to get through 3 more months without any income?
Holland what?
Elie, the 75K advance was only given to people who were pushed back a FULL YEAR, not a few months as is the case here. Jesus man.
On the upside, these folks spend 1 year as 1st years instead of the usual 1.25 years. Although, since they're not even getting paid a 1st year salary for those .25 months, I guess its not really an upside.
I hear Mexican drug cartels are still hiring. Can anyone confirm?
looks like i'll be eating fucking cat food for a few months.
Ramon Noodles are cheaper than cat food, and only taste slightly worse...
MysTTTal, you SUCK!
MysTTTal, you SUCK!
MysTTTal, you SUCK!
MysTTTal, you SUCK!
MysTTTal, you SUCK!
MysTTTal, you SUCK!
Elie is a TOTAL embarrassment with these constant typos. Lat, I realize ATL is not the NYT or WSJ, but don't you care about upholding some kind of journalistic standards? Fire the fat ass or at least give him a few lashings, for Christ's sake.
Milbank will be next y'all.
How have you not gotten a handle on the e-mail Alston & Bird sent its incoming class today??? Heard they're contemplating the exact same start date...
24,
I love you.
First to say no first years in class of 2009. Everyone will be rolled into class of 2010.
At this point in time, 3L's going to King & Spalding would jump at the chance to start on January 11, 2010.,,much better than having your offer rescinded!
what a fucking garbage heap
The Channel Four News Team is hiring. Brick succumbed to the sweet embrace of Darkness Everlasting after he jumped off the Channel Four News Building. He thought he saw a quarter on the sidewalk. It was only a nickel. WHYYYYY?!
Brick's shoes will be hard to fill. You must be: (1) mentally retarded, and (2) willing to kill a man with a trident. Who am I kidding? You're all qualified.
36,
do you have big tits and an ass that tastes like French Vanilla ice cream?
24
Sweet jumping jurisprudence, do I ever love The Dow is Up Guy!
Not sure if this has been posted already... Goodwin Proctor Boston is delaying start dates as well. No word on when incoming first-years are expected to start.
Number 12, are you fucking kidding me?! See this, maggot: www.dshort.com
supposedly more layoffs at Fried Frank this week.
So if all these firms are pushing back start dates, what happens to the following class year? Will another class follow only 6 months after, or will they be pushed back as well??
43 - Where did you hear that? They mentioned that they were not making any decisions until April...
12, a fan of your comments here. I'd like nothing more than to see BigLaw partners get burned by ending up short staffed and losing clients as a result... but I digress
I'm holding 2500 shares of RIMM (i.e., blackberry, for those not in the game). I went long at $48. Do you think I should sell now and eat the loss (which is now much less than I had feared)? I'm off the Cramer bandwagon since he got taken apart by the comedian, so what do you think?
Associate salaries were cut too -- any word on how much? Apparently all H&K associates who didn't make hours (i.e., most) took a nice haircut.
48- not to get into any financial discussion here...but i will. cramer has been consistenly wrong even during the latest expansion. in fact, a study at MIT showed that statistically, Cramer was no better at predicting anything than pure luck and was worse than the test monkey. further, if you just put your money in index funds, you would have bettered him by over three times in some instances and not done worse.
anyway, H&K is in the tubes. groups around the country are moving out, including IP folks, which is bad since they are one of the few groups that makes money for the other partners.
47 -- It seems almost certain GP's dates will be delayed, because otherwise, why the silence from them? We've heard nothing other than "we'll tell you your start date later in the spring," and that is vastly different from earlier years. So clearly, they are waiting to see just how far they will push our start dates back.
What also worries me is that they've said nothing at *all* about any kind of salary advance/stipend. They've given advances in past years, but again, silence...
-- Not 43. Incoming (I hope) GP associate
can we get a thread on what to do between the bar and a january start date? That is August-December of nothing to do. It is not like I can afford a great bar trip when I am looking at not getting paid until 2010.
Also, won't most firms ditch people who do not pass the bar the first time?
Something's rotten in Denmark.
51, 47, 43 - in past years GP has frequently waited until mid April to announce start dates. I also heard that RP said at the townhall meeting that various "creative" solutions were being considered for incoming class - NOT including rescinding offers.
Is anyone else surprised that Holland & Knight is (based on ATL's reporting) not offering stipends to delayed first years? I know the entitlement argument will certainly be advanced, but there is something to say about not having any income for many more months than anticipated. Is this the start of a new trend?
Why hasn't ATL reported on the reduced salaries at Holland & Knight? Are the incoming first years also going to be paid a reduced salary?