Winstead Cancels 2009 Summer Program
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]
Earlier: Luce Forward: Rescinds 3L Offers, Cancels 2009 Summer Program
Prior ATL coverage of law firm layoffs
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First!
I want my 3500 sq ft and a MULE!
This is idiotic considering the recession is behind us now. Check the Dow.
That sucks
What is a winstttead?
UT LAW 4tw.
hth.
Haha to all you Texans that thought your silly state was immune from the crappy economy. Go home and sell your Lexis.
Lexis in Texis!!!
There are limits to my comedy. There are things that I'll never laugh at. The handicapped. Because there's nothing funny about them. Or any deformity. It's like when you see someone look at a little handicapped and go 'ooh, look at him, he's not able-bodied. I am, I'm prejudiced.' Yeah, well, at least the little handicapped fella is able-minded. Unless he's not, it's difficult to tell with the wheelchair ones.
Texis is very classy and stuff. I bought my wife a Lexis and even upgraded to the air conditioning package.
wasn't this scooped by xoxo several days ago?
Not surprising... everything is BIGGER in Texas (and I do mean EVERYTHING!)... Why shouldn't the layoffs be bigger?
LOL @ anyone from UT talking about anything being a TTT.
All will be well.
TMWP.
Aren't all New Yorkers government employees now? I mean, hell, what is the point of your state now that the banking industry has collapsed. Pretty soon Jersey is going to outshine New York. At least they make something there...
Let's not even talk about taxes. Pretty soon you won't even be able to get a lap dance without getting taxed.
What is the body count for the week?
WinsTTTead
3500 sq ft and a Lexis!
Elie -
Neither you nor ATL is a match for us Texans. I repeat - Don't mess with Texas!
A word of advice for the prematurely terminated summer associates:
Work on your social skills. Go to the beach and converse with people from the opposite sex. I recently read a book on neurolinguisitc programming which suggests that if you are a male, wear a dildo on your forehead and go out to town and talk to the women. This exercise will help you overcome your fears of rejection and congregating with others.
You can thank President Obama for your summer vacation too.
19 - Don't you mean Bush? President Obama has nothing to do with this economic crisis. We all inherited this from Bush.
I'm usually not very smart with this kind of stuff, but a look at the dow over the last several months shows the real dive happening right when Obama took office. Bush started the decline, but Obama sure does know how to "say all the right things" to accelerate it.
21--you're still not smart.
This comment is addressed to post no. 20.
Sometimes life is better understood by grasping simple concepts. If Bush started the fire, President Obama is dousing it with kerosene. This economy is going to hell with President Obama's oppressive business and tax policies. President Obama has caused more damage to this nation than was done on 9/11/2001.
WinsTTTead
22 - that's the best you got? 20 is all about the rhetoric. If you don't want to be lumped in with him/her, say something intelligent.
950 sq. ft., hot actress wife, s-class.
-NYC
You all need to listen to that PE guy, things were so much better when I was President.
small dick, jewish girl friend, layed off.
-NYC
This would NEVER happen in Texas. Oh wait. D'oh!
Great Rack 21!
The ship be sinking...
Texas attorneys love to take it up the ass, I fucked several up the ass in my office doggie style...they jerk their little peckers the entire time I'm going to town on their ass. -Chicago sausage king
CAN WE PLEASE KEEP THIS BLOG RESERVED FOR FIRMS THAT MATTER. No disrespect to these firms, or that I am not saddened by any layoffs, but there is no need for a full-blown post for a small-regional firm that no one knows about just to keep up the scare tactics. We don't want it to seem more and more acceptable to have layoffs.
Winsread....Winsteeds...whens you come in on Monday, your key won't work!
Sadly the layoffs aren't too surprising. Winstead is (was) big on real estate work
33, I agree. And I'm from Texas (and returning there after law school). Winstead is not even an also-ran among BigTex firms - even firms like Jackson Walker, Locke Lord, and Gardere are more prestigious. I would be willing to be that many top Texas students don't even know Winstead exists.
To 36 - agreed. I'd never even heard of Winstead until last year when the Texas Lawyer reported that they couldn't afford to match the 2007 pay increases.
"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."
Very classy, mysTTTal...
Winstead is in the condition they are in because of poor management. They have champagne taste and beer money. It's not the fault of neither President Bush nor President Obama. President Bush did get us into a financial mess and President Obama hasn't been in office long enough for us to make a fair assessment of how the economy is coming along... we cannot base how the president is doing on how well the stock market fares.
Winstead needs to find someone to merge with quickly or else they will soon disappear.....
I know - I once worked there
rumor has it that winstead may fold by mid-summer. they are allegedly actively looking for a suitor to absorb what is left. the existing clients are getting nervous and looking to exit. look for the dissolution of winstead by the end of the year.
Winstead is not about to "fold" and is not looking to merge with anyone. These are ridiculous rumors, probably posted by the ones who were fired. I know several associates there who are working nights and weekends every week.