Nationwide Layoff Watch: Chadbourne & Parke Joins the Party
This layoff news is breaking right now, so we don’t have all of the details. But we understand that “heads are rolling” today at Chadbourne & Parke.
The firm did not respond to an immediate request for comment, but there are multiple reports of the layoff reaper making the rounds at the firm right now.
Layoffs are being done face-to-face and no firm wide announcement has gone out.
However, the firm is firing first years, so we don’t imagine that this is a “performance review.” In fact, one tipster puts it like this:
They were very nice. It is purely economical.
We understand that Chadbourne is giving a three month severance package.
You’ll remember that in October, Chadbourne announced a hiring freeze. That seems like an obvious move now, and not surprisingly it looks like that wasn’t enough of a cutback to ride out the economic storm.
But at the time Chadbourne said that the hiring freeze wouldn’t affect the 2009 summer program. We’ll see if that holds up in the face of layoffs.
Update (4:39): Chadbourne has now confirmed these layoffs. Check here for our continuing coverage.
Earlier: Hiring Freeze at Chadbourne & Parke Adventures In Burying The Lead
Prior ATL coverage of law firm layoffs
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FIRST!
first
Watch as ATL meticulously accounts for the employment status of every single associate at every single firm imaginable.
At some point, you might want to look for other news to report.
Not that this firm is in any way relevant (i.e., not a peer competitor) to me; however, I feel compelled to offer some soothing words of comfort for the attorneys being affected by the wave of layoffs that are in part due to lackluster performance and also to the sagging economy. Do not take your termination personally. Be a professional, walk tall and refrain from tearing. Your termination was a business decision. I am not here to make your dreams of financial wealth become true. I am not a genie, just a businessman with an acumen for making money. If you cannot bill quality hours, you are not useful from a business standpoint. Thusly, you must go. Some departments are slow. The lack of work means you must go. Again, nothing personal. Understand that older folks like myself built the foundation of most of these firms. We will weather the tough times and survive. If we have to get rid of excess baggage in order to stay afloat, we will not hesitate to do so; after all, I am not running a charity. Nothing personal, just pure business. I wish the terminated associates and personnel good luck in their future endeavors and let us share in communal prayer that this economy recover sooner rather than later.
# 3
What other news would you be referring to? I go to ATL not for hard-hitting journalism, but gossip and rumors-mongering.
If it's legal news you want, I suggest you try www.law.com.
Should have had a V8 (firm).
UT LAW FTW!!!!
A comment from a thread earlier today:
I'm noticing that for every or almost every one of these Mystal posts, "firms declined to comment." It used to be that the editor here could a least get something like "in light of economy/client expectations/moving to a new building, we are shortening our 2009 summer program."
Do firms decline to comment because this subject is particularly sensitive or private? Doubtful. Do they decline to comment because Mystal has not earned any credibility and the staff here relentlessly attacks Biglaw management and never once gives it the benefit of the doubt, or even a permissible alternative view?
Yesterday, this site posted all about the MLB deferral program with Elie's "interpretation" of an initally non-public email. He twisted the words, blasted the firm, and then backed it all up by suggesting that MLB's "no comment" meant "you're so right!"
For the last 2 weeks, this site (Kash) has been blasting out fear-mongering, unsubstantiated "stealth" layoff posts about Kirkland and other places. What makes you think Kirkland will diginify you with even a cursory comment now?
When I click the Shearman & Sterling link, the last 4 or 5 posts are unflattering descriptions of layoffs. What does Shearman owe you?
Yesterday you couldn't spell "Davis Polk & Wardwell" correctly, not even on the second try.
At the end of last year, you rediculed Cravath for giving out smaller (although market, which you failed to understand) bonuses than Skadden. Well beyond the (initially funny) joke's life, you continued to refer to Cravath as "Half-Skadden" in posts totally unrelated to bonuses.
Well, Mystal, it looks like everything has finally come full circle. You can hate on Biglaw for being short-sighted and opportunistic, but you are no better. You've burned every bridge the former editor carefully built. For you, the name "Half-Lat" would be a joke because it is a great, great overstatement of your talents.
Show a little tact and respect to people who have worked hard and are going through a tough time. Write a light post that highlights a Biglaw attorney, and mention the firm and its strengths. Ask for comment before you fire out another typo-ridden post, and don't assume "no comment" means "you're right," "we're hiding something," or "we're scared."
A comment from a thread earlier today:
I'm noticing that for every or almost every one of these Mystal posts, "firms declined to comment." It used to be that the editor here could a least get something like "in light of economy/client expectations/moving to a new building, we are shortening our 2009 summer program."
Do firms decline to comment because this subject is particularly sensitive or private? Doubtful. Do they decline to comment because Mystal has not earned any credibility and the staff here relentlessly attacks Biglaw management and never once gives it the benefit of the doubt, or even a permissible alternative view?
Yesterday, this site posted all about the MLB deferral program with Elie's "interpretation" of an initally non-public email. He twisted the words, blasted the firm, and then backed it all up by suggesting that MLB's "no comment" meant "you're so right!"
For the last 2 weeks, this site (Kash) has been blasting out fear-mongering, unsubstantiated "stealth" layoff posts about Kirkland and other places. What makes you think Kirkland will diginify you with even a cursory comment now?
When I click the Shearman & Sterling link, the last 4 or 5 posts are unflattering descriptions of layoffs. What does Shearman owe you?
Yesterday you couldn't spell "Davis Polk & Wardwell" correctly, not even on the second try.
At the end of last year, you rediculed Cravath for giving out smaller (although market, which you failed to understand) bonuses than Skadden. Well beyond the (initially funny) joke's life, you continued to refer to Cravath as "Half-Skadden" in posts totally unrelated to bonuses.
Well, Mystal, it looks like everything has finally come full circle. You can hate on Biglaw for being short-sighted and opportunistic, but you are no better. You've burned every bridge the former editor carefully built. For you, the name "Half-Lat" would be a joke because it is a great, great overstatement of your talents.
Show a little tact and respect to people who have worked hard and are going through a tough time. Write a light post that highlights a Biglaw attorney, and mention the firm and its strengths. Ask for comment before you fire out another typo-ridden post, and don't assume "no comment" means "you're right," "we're hiding something," or "we're scared."
Did somebody say party? The "entertainment" has arrived... "fully equipped" and on-the-clock!
The ship be sinking...
Is that a giant kidney stone in the Chadbourne ad?
ATL reporting on Kirkland layoffs is highly credible. On an Adam SMith, Esq. recently posted article, Kirkland was shown to be highly leveraged on both the charts showning associate to partner ratio, and non-equity to equity partner ratio. Kirkland layoffs are a certainty with that kind of leverage. Why have reports kept surfacing on K&E layoffs? Because they are taking place!
Where there's smoke . . . . .
nervous T-10 1L here.
are there any lower ranked vault firm that haven't laid people off (other than the prestigious ones like quinn, irell, etc.)?
*nervously compiling list of firms to bid on for 2L oci while day dreaming about models and bottles *
-nervous T-10 1L
soon to be nervous 1L sa
Ah, JT's old stomping ground. Don't worry C&Pers - just head downstairs, hit up some Manchu Wok, maybe grab a latte, and all will be well.
As an associate, I am sick of hearing about the layoffs. We have a few people here hanging around the office on severance/notice and its disgusting. They keep trying to talk to me and others even though they make everybody uncomfortable. I mean, really, if you have been laid off, why can't you just stay in your office or at home and not bother those of us who were smart enough to keep our jobs. Laid off people are gross and demoralizing.
Cleveland firms don't seem to be laying off yet. It's not NYC but....go CAVS!
What are the numbers at C&P?
You mean Cleveland firms like Thompson Hine, Baker Hostetler and Squire Sanders, 16? They have all done layoffs.
ATL reported the layoffs at Squire and Thompson. Baker didn't announce layoffs, but I know of attorneys in one of their offices who were laid off due to the real estate downtunrn.
15 = social moron unable to feel empathy. Ever heard of karma, jerk?
rumor has it that a mormon partner on the layoff committee at Chadbourne made sure that no mormon associates were laid off. go jesus
12, good point. Note also that Venable ranked very low (read: more balanced) on leverage, but ATL reported layoffs there today.
15 - wow, I try not use such words, but really, if there ever was a douche, it had to be you. You get uncomfortable even TALKING to your former colleagues who had the misfortune of being laid off?
Nervous 1L,
Are you top 5%? If so, you should change your name to "will get an offer even if he goes into an OCI butt naked and puts his dick on the table" 2L.
Otherwise, change it to "I'm f**ked!" 2L.
A comment from a thread earlier today:
6/7 - And yet, you still spend 20 minutes writing out that bitchy screed and will continue to return here, giving ATL increased pageviews and revenue.
Who's the shithead now?
23- that would require humor. Post after post, Nervous 1L has proven to be ridiculously unfunny.
"Have the designated associates report to the conference room. We are ready to give them their severance."
Partner Emeritus rules.
Listen 19/22, I know I am not the only one who feels this way. Ever notice how, when someone who got fired walks into a meeting or elevator, the conversation just stops? Its really awkward. Laid off people should be more considerate and stay away from people who didn't get fired. I mean its not like they have to talk to us to do work or anything. Laid off people should not bother us, its just simple manners that every human should know.
15
15/28 -
So true
18 - Baker has not had any layoffs, stealth, economic, or otherwise.
15/28, hopefully, you will soon have a chance to show the rest of us how well-mannered you are.
30,
Tell that to the attorneys I know who got laid off from Baker last fall.
These layoffs seem a tad premature seeing as the DOW is up, signaling the end of the recession.
You know what is funny? @ssLO|3Ster !
Nervous 1L- didnt i tell you to shut up?
Don't feed the trolls (d/b/a 15) - it makes them even more uppity.
33:
End of the recession? Keep dreaming. This is going to be worse than the great depression. Mark my words.
You're SO SPOT ON, #37. When GM files for bankruptcy and the bottom falls out, all the commentators will say, "you know, Commenter #37 was SO SPOT ON!"
37...please identify yourself so that we know whose words to mark
32 - I would, if they existed...
#4 . . . what a stuffy s.o.b. you are. hope you're on the chopping block next then tell us it was nothing personal.
Chadbourne & Parke: Solid as Iraq!
Ooh, burn, 40! You got 32 good.
It seems Chaddy has been doing stealth layoffs for months now. The senior associates were also hoarding work so they didn't get fired and could justify their bloated (soon to be diminished) salaries. No work trickled down to the first years.
Ten bucks says that Chaddy did this a day after White & Case's layoffs to not make as big a splash. My guess is that they wanted to lay off the first years for quite some time and saw their opportunity after the W&C bloodbath.
I personally think Chadbourne is going under.
-former (thankfully) C&Per
Which Dep't 44? Products Liability Litigation?
I concur Numbers 15 and 28. Are there no prisons? Are there no workhouses? If they would rather die than go there, they had better do it, and decrease the surplus population.
This comment is addressed to post no. 4. The block is in front of me and I wield the butcher's knife. Wishful thinking on your part.
Baker absolutely fired attorneys. Wake up delusional Ohioans. Some of your finest (and hottest) are gone.