Nationwide Layoff Watch: Pircher Nichols and the Rule of Eight
Now that Citigroup decided that the recession was over, hopefully this layoff news will start to dissipate. But we wanted to catch up on some layoff news that happened yesterday that we weren’t able to get to. Pircher Nichols & Meeks had its second round of layoffs, and the numbers were surprisingly similar to the first round of cuts.
Leo Pircher explained the news to Above the Law:
The Firm laid off eight attorneys, five in Los Angeles and three in Chicago. Two of the attorneys were first years.
In early December, Pircher Nichols also laid off attorneys, eight attorneys to be exact. Those cuts included one first year.
First years aren’t safe at large law firms, and they’ll find no quarter at mid-sized law firms either.
Read the full statement after the jump.
PIRCHER NICHOLS & MEEKS — STATEMENT — LAYOFFS
The Firm laid off eight attorneys, five in Los Angeles and three in Chicago. Two of the attorneys were first years. The commercial real estate market, which is the area in which the Firm’s practice is concentrated, has not recovered. As a result, the work of the Firm has significantly slowed. Our clients tell us that they do not anticipate much of a recovery before 2010. In order to maintain the viability of the Firm, and thus preserve as many jobs as possible, it is necessary that we bring our costs in line with our revenue. Therefore, we have, very reluctantly, taken this action. Nevertheless, we remain optimistic that the commercial real estate market will recover strongly in the foreseeable future, and that we will resume the growth that we experienced in the last several years. We hold the attorneys that were laid off in the highest regard, both personally and professionally. We will do whatever we can to help them find new positions.
Leo Pircher
Earlier: Nationwide Layoff Watch: In Case You Were Wondering, The Economy Is Hurting Mid-Sized Firms Too
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f f f first
This is terrible news for Fordham's top 10%.
third!
I heard the remaining associates took a 20% pay cut. An enviable position compared to "Eight is Enough"
"We hold the attorneys that were laid off in the highest regard, both personally and professionally. We will do whatever we can to help them find new positions."
Not that this cushions the blow much for those losing their jobs, but it's nice to see firms being so open about the fact that it's not the fault of the affected lawyers. I suppose when everyone's cleaning house, there's less fear in being honest instead of spewing some BS about poor performance. Of course, that hasn't stopped some other firms from doing it, but they're (apparently) in a minority...
Who?
I have a theory on why the deal breaker girl is getting such positive attention from our esteemed community...a non-imposing Caucasian guy feeding and getting slapped by a fugly Asian chick...I mean its the nerdy white male's domestic & sexual fantasy rolled into one.
I am constantly pleased with my decision to accept at Skadden. The rest of you are idiots.
Prestige
Dealbreaker ad would be better if Asian girl was Kristen Kreuk. Lat, get going on that.
7,
Alternatively, it could just be a really !()@%)*!#$ annoying ad.
Am I the only one who gets the sense at times that ATL takes pleasure in the lay-offfs?
That is Lat in the ad. He really likes being fed grapes.
8 = insecure virgin
The ship be sinking...
The email doesn't mention the pay cut they forced on all the associates who've survived round two of the ax.
10, 7 here. No dispute from me, although I've seen far too many comments indicating a willingness to bang said fugly.
As the official spokesman for the White Shoe Silk Stocking Law Firms, I have been authorized to give the following statement to Above the Law:
Pircher, Nichols & Meeks is not a White Shoe Silk Stocking Law Firm, therefore we have no comment on this post. However, we share one small thing in common, i.e., we are all terminating associates because there is a world-wide recession and WE ARE BROKE!
Quinn remains on Baltic Avenue
8 --- what would make you think Skadden is prestigious? -- not a selective firm at all, just big
Get out the whetstone
Who cares -- what happened at the PH meeting this morning?
Michael Ray...when do you think you will be able to tell us when the ship has actually sunk? I mean, your ship is taking a f-cking ridiculous length of time...just drown already.
@21 -- Partners handed out coat hangers to all female associates.
With a nod to Michael Ray Richardson:
"This thing be needin' sharpening."
7,9,10-
12's right. Its Lat in a wig. As a nerdy white male who wants to dominate a submissive Asian, I'd do Lat-if he wore that wig.
My firm should have at least hired a Dr. Kevorkian to assist me with my suicide. It would've been much more helpful than the completely useless outplacement people they hired.
-suicidal laid off 1st year
Sound like Pircher Nichols followed octomom's lead a spewed out eight worthless babies that will be living on welfare.
19 - I'd argue that Skadden is pretty damn selective, just not on things like law school names.
Ya got the kill in ya? Prove it to Skadden. They love the kill.
Coat hangers are not prestigious. Shame on you Paul Hastings.
White Shoe Silk Stocking Law Firms BLOWS!!!!
What about Allen Matkins and Cox Castle. Pircher is a bit of a blip on the radar screen. Both of these firms boast a much larger headcount, but both are about as heavily weighted in real estate.
This falls securely into the who gives a f*ck category.
"We will do whatever we can to help them find new positions."
Translation = "I am doing whatever I can to find a new firm that will take me as a partner. This place is screwed, may God have mercy on your souls."
Look at this - "Dutch girls must be punished for having big boobs". Now you do not punish a girl, Dutch or otherwise, for having big boobs.
"What about Allen Matkins and Cox Castle. Pircher is a bit of a blip on the radar screen. Both of these firms boast a much larger headcount, but both are about as heavily weighted in real estate."
All three have something else in common: they suck royally.