Staff Layoff Watch: Shearman & Sterling Update
Yesterday, we told you that Shearman & Sterling was laying off staff. Today, the firm made an official announcement about its reductions. According to the firm, 60 people have been let go in the U.S., and the firm plans to let 18 people go in the U.K. (once they comply with various European employment laws).
The staffing cuts will hit a number of departments:
In the US, approximately 60 secretaries and other administrative personnel from various groups, including Finance, GTS, HR, Marketing, and Office Services, will be leaving the firm today. In London, we are commencing a formal redundancy consultation process, as required by UK law, which will result in the loss of approximately 18 secretarial and administrative staff positions at the end of this process.
The firm did not share the details of the staff severance package, but the statement does mention that the laid off employees will be receiving a package. The firm does not mention any attorney cuts.
Read the full statement after the jump.
SHEARMAN & STERLING — STATEMENT — STAFF LAYOFFS
As we know, global economic conditions continue to be volatile and there is no certainty about when the downturn is likely to end. While the current environment has created some new business opportunities for the firm, it has also required a careful balancing of service levels and cost management. We have implemented a variety of cost-cutting measures, including a worldwide administrative salary freeze, bonus pool reductions for associates and administrative staff, deferral of a number of projects, and decreased spending on discretionary activities. Regrettably, we have concluded that we must also reduce our administrative staffing levels in some locations.
In the US, approximately 60 secretaries and other administrative personnel from various groups, including Finance, GTS, HR, Marketing, and Office Services, will be leaving the firm today. In London, we are commencing a formal redundancy consultation process, as required by UK law, which will result in the loss of approximately 18 secretarial and administrative staff positions at the end of this process.
It is difficult to see friends and colleagues leave the firm, and we want to express our appreciation to the people who are leaving for all they have done for us individually and collectively. We are offering financial packages and outplacement services to those who are leaving to ease their transition, and we wish them the very best.
The reduction of administrative positions will involve some support and service adjustments in certain areas, and I want to thank everyone in advance for working together to adapt to such changes. We will do our best to minimize service disruptions and are committed to continuing to provide quality support.
If you have any questions, please let me know or feel free to speak with your partner, manager, or a Human Resources representative.
Shearman to cut 18 secretarial jobs in London [The Lawyer]
Earlier: Staff Layoff Watch: Shearman & Sterling Makes Cuts
Prior ATL coverage of staff layoffs
(46) 
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Hate being the loser that says First
Wokka Wokka!!
10th!
what about that ttt K&L Gates?
What about KLobster Gates, #4? indeed.
The lawyers don't need us support staff, anyway. They can do the shit work themselves.
I used to know a girl and S&S. She was good looking. Does any one know if Amy Seegal still works there? She was hot around 2002.
I used to know a girl and S&S. She was good looking. Does any one know if Amy Seegal still works there? She was hot around 2002.
Why don't they acknowledge the stealth layoffs that occuring???????????????????????????????????????????????????????????????????????????
I have always measured my level of prestige by the size of my staff on hand.
S&S has been laying off lots of associates. Its a ghost town.
Yea these layoffs yesterday were a bunch of stealth layoffs because we didn't see it coming. The severence package was kinda weak too IMO.
Please make up some more rumors about KaLis Gates. I need another ulcer.
I banged a girl named Laura Siegel from S&S 3 years ago. Was it her?
It was probably a CWT NY 05 female associate.
6- What lawyers?
Lots of Finance and Property associates and counsel are already gone.
what are the top five most solvent firms???
*scrambles to find notepad*
-nervous T-10 1L
soon to be nervous 1L sa
Dear teh Support Staff,
We're not all assholes. Quite a few of us value the work you do, regardless of the comments on this website. When I was a summer associate my secretary warned me about potential political traps, covered me when I did something dumb, and answered my stupid computer questions. For those laid off, I wish you the best of luck finding gainful employment. I'm not in the bread line yet, but my time may come.
3L with a not yet rescinded offer who hopes to have a good secretary (and a job)
Er, excuse me, but why are we even talking about this? These are STAFF layoffs not attorney layoffs!
Nervous T10 1L
I have the answer, but I don't think you're going to like it...
Long live the Revolution!!
I was talking to a guy who works in our library yesterday just minutes after he got his marching orders (poor schmuck). I suggested that he go to law school now that he has some time on his hands - poor dude just looked at me and mumbled some crap about finding the money to do that. I realized, perhaps too late, that he probably couldn't get into a law school that counts. Oops, my bad!
These comments are boring. Please try harder.
21: where should i go when oceans rise and cities fall?!?! surely someone must remain?
-nervous T-10 1L
soon to be nervous 1L sa
20- You do not work in a vacuum. A good firm functions as a team, and everyone, from support staff to the rainmakers make a contribution. Some obviously get more glory (rightfully so), but for a team to be successful, every piece needs to be in place. LeBron needs someone to bring him the water during breaks. It is not a glorious job, but a one that needs to be done nonetheless. As for why ATL is posting this...remember, 'ATL a Legal Tabloid'. We are part of the legal community just as much as you are, albeit with a smaller paycheck. We enjoy reading about the Pillsbury partner who airs the firms dirty laundry on the train. We enjoy making fun of Elie's mistakes. And so on and so on.
That is all.
-Biglaw Para (who probably billed more hours last month than you did)
Should I panhandle outside the law firm that laid me off as a first year? I could put on some raggedy bum clothes and hold up a sign saying they laid me off.
23--you, sir, are an a$$.
Hey 26, I'm feeling thirsty - go get me some water....NOW!!
I don't think anyone is unsympathetic to the plight of staff that get laid off. I know I am not. I think most staff are living pay check to pay check while most lawyers should not be. (I hear your student loan arguments but give me a break. That is what 1k a month out of a minimum 7k take home pay for a first year.) I wish all of the laid off folks well. It is a bloody mess out there.
Oh - and 23, I would not recommend anyone going to law school right now. Even iif you get into a top ten school who says there is going to be a job for you. Firms are slaughtering first years in these layoffs and don't know what to do with the folks that are coming down the pipe. I
WHAT IS GOING ON AT OMM TODAY???????? SEVERAL OF MY BUDDIES IN THEIR NY OFFICE JUST GOT CANNED. IS THIS GOING ON IN ALL OFFICES??????
I just gave it to a CWT NY 05 female associate in her can, does this help?
Hey 29 -
Average 29 points a game and then we will talk (or in law firm terms - bring in a seven figure client). A$$clown.
All snarkiness aside, it really is shameful that some of you act this way towards your fellow employees. I know, this is anonymous, but don't think for a second that we don't know who you (the royal 'you') are. Have some compassion.
Do not let OMM pee in you face and then turn around and try to tell you it's sweet milk!
Shearman & Sttterling is going down!
This is in blatant violation of Revised Statutes of Grammar ยง13-102(a):
"In staffing cuts will hit a number of departments."
I let a lot of the little stuff slide Elie, but this doesn't even make sense. Your punishment, as usual, is to go eat five Ho-Hos.
33, you do realize that most of the "staff=EPIC FAIL" comments are from AutoAdmit law students who've never worked a day in their lives (I haven't figured out yet that now, they probably won't)?
No one who actually is EMPLOYED as a lawyer at a law firm believes for a minute that the enterprise can function without staff.
Is your work done? Are all pigs fed, watered and ready to fly?...
The ship be sinking...
What is a laid-off lawyer to do? They principally had their savings in the stock and housing markets, which have been decimated. Unlike many blue-collar and public-sector workers, they have no union protection, limited pensions and suburban-family expenses. And as professionals, they have perfected how to do their narrow job well. But many have little direct business sense or experience.
Don't need support staff -- LOLOLOLOL
The article is right --- LOLOLOLOL
clueless morons
Oh, and one more thing, I am not gay.
This is a canary in the coalmine story, that's why you should care. They would not have done it unless they had to, and they had to because things look grim. You should also care because many of those let go were good people who did their jobs, covered our asses, and have now been sent packing with a token severance to face the crappiest economy in three decades.
This is the WORST kind of stealth layoff imo. S&S publicly announces staff layoffs to divert attention from the fact that they have been stealthily laying off many associates for a while. The implication being that they announced staff layoffs, so they would probably announce attorney layoffs too. Except that they haven't. Sneaky bastards.
how many attorneys have been let go from S&S?
3 staff layoffs = 2 attorney layoffs TBA
3 staff layoffs = 2 attorney layoffs TBA
thats right