The news keeps flying (galloping?) in from Texas. And of course, the news insists on being bad.
A couple of days ago, we received a tip that Winstead has canceled its 2009 summer associate program. We’ve now been able to confirm that information through multiple sources.
One bright note is that our sources tell us that the firm is offering $5,000 in “severance” for the 2Ls who no longer have a place to work for the summer. That should buy some nice interview clothes when they hit the 3L recruiting circuit next fall.
The firm declined to comment for this story.
The news puts Winstead on the short list of firms that have canceled their 2009 summer entirely. But Winstead is also on the layoff list, which has a lot more company. The Texas Lawyer Layoffs at Winstead [Tex Parte Blog]”>reported:
Winstead is laying off lawyers for economic reasons, according to two partners who request anonymity. Shannon Tipton, a spokeswoman for Winstead, confirms the layoffs, but she says management at the firm declines to discuss the number of lawyers being asked to leave.
Our sources didn’t have the overall number of cuts either. But we understand that associates, staff, and even partners were part of the reductions. Sources report that three partners are leaving, though we are not sure if that was by mutual consent or not at this point.
Texas, you are being “messed” with! I think we’re about to see if the clever moniker is an idle threat or a solemn promise.
We’ll update you with additional information if the firm decides to comment.
Layoffs at Winstead [Tex Parte Blog]