“It’s no fun,” Riley says. All of the lawyers are associates — only two of them are first years — who practiced in real estate or other business-related areas that require bank money to operate. “It was mostly mid-level associates in business areas. And I’d say it was a one-third real estate and two-thirds more corporate general business,” Riley says. “These are good lawyers. It’s like a rifle shot went through all our law firms, and the financing groups just stopped. We are doing transactions, but man, it’s nothing like it was.”
Wow. Mr. Riley sounds pretty broken up.
The firm also pushed back start dates on its incoming first year associates until January 2010.
Good luck, recently terminated Texans. I’ll tip a Lone Star in your honor.
Thompson & Knight lays off lawyers, staff firmwide [Tex Parte Blog]
Earlier: Prior ATL coverage of law firm layoffs