first?

What was the offer rate for summers in NY??

Just before bonus season to avoid paying bonuses to people they want to get rid of anyways. Now they will be able to come in above Cravath for the attorneys they feel deserve it.

Layoffs at Kasowitz.

this wouldn't have happened if Robert Shapiro had stayed with th firm after the OJ trial

Workers of the world unite! The Bourgeoisie partners play you against each other, all the while treating you as the running-dog lackie petty Bourgeoisie that you are. Bind together, throw off your shackles of oppression, and .. BRB icepick

"heartfelt regret" is code for "budgetary glee"

When do the honor killings start?

What is bizarre is that amongst this, Dickstein called some of its incoming associates and asked if they could start early...perhaps different practice groups, but you'd think they would have come up with a more creative solution (like shuffling some associates around) instead of this...but who knows.

I was just laid off by this firm. It helps that they cited the economy instead of my work for their reasoning. Thanks guys, no hard feelings.

Derek Smalls once tried to smuggle a dickstein shapiro, wrapped in aluminum foil, through an airport metal detector. He didn't get very far.

with the banks making so much money this quarter how come transactional practices are not heating up more? goldman sachs, jp morgan, morgan stanley....they should all have plenty of work for law firms right now.

Mission Accomplished!

I wonder how aggressive Kash is in bed.

Please inform Mr. Nannes that I am here to provide the "comprehensive separation package."

I got "Dicksteined" - does that make me gay?

Ah, Nigel . . . great work, I nearly spat out my morning tea.

But with respect to these memos we see on ATL, I believe Biglaw doth tout its "continued strength and success" too much.

Seems like there's a little too much fucking "continued strength and success." I don't know how much more of this "continued strength and success" our profession can withstand.

These types of layoffs are indicative of the most greedy partners. Letting 3% of associates go to marginally increase PPP is despicable, and it is even more despicable to mask this intent blaming the economy. Further, there's a new boy in the neighborhood , lives downstairs and it is understood.
He’s there just to take good care of me,
like he’s one of the family. Charles in Charge
Of our days and our nights Charles in Charge
Of our wrongs and our rights And I sing, I want,
I want Charge in Charge of me.

Rose by any other name... Let's call it what it is: You're fired!

5: more info

Elie, why don't you do a story about the Paul Weiss IT guys having to order more "T" and "P" buttons for their keyboards. TTTPPP

17: Only if the balls touch

22: Care to elaborate?

13 - banks are making money off their prop trading desks, which don't require transaction costs like lawyers.

They borrow funds, at basically nothing, from the Federal Reserve. They run them thru the prop trading desks, lever them up, and reap the rewards to recapitalize themselves. Any idiot (with a federal charter) can take money from the Fed at the discount window, lever it up, and put it in Australian bonds at 4-5%. None of this is taxed, because of huge carryover losses from last year.

My Gawd HUBBINS BLOWS.

JaKe is poor.

Glad I didn't take an offer here.

From my experience with Nannes, he is probably genuine in his regret. No, I don't work for Dickstein or even live in D.C., but I have met him a few times and he gave a good impression

I would love to make some sex with Kash's most famous beaver.

ShaFeef

ShaFeef,
The witch doctors in Tanzania can cook you up a lucky charm to help you in your endeavors. Good luck.

What was Dickstein's offer rate for SAs in the NYC office?

Would it have been that hard to give a ballpark figure on how many lawyers this works out to be?

Firms are in business to earn money. If partners aren't earning money off of associates, there is no reason to keep them around. This is just good business practice.

Thanks 29, your anonymous comment regarding your impression of Nannes after a few brief encounters outside of work capacity sure was informative.

I would gladly give up 10 musk oxes and 20 of my best camels for a night of unbridled making of love with Kash and her magical beaver.

ShaFeef

Does anyone know what practice groups were affected?

The debtor's correct name was "Michael A. Erwin," but the financing statement listed him as "Mike Erwin." The rules of Article 9 excuse "minor errors . . . unless . . . seriously misleading"; 9-506(a). Is the secured party okay here?

Does anyone know what practice groups were affected?

29, 35 -

Ted Bundy also gave off a good impression - until he murdered those women.

At least this firm was honest; or seems to be. The real test of honesty is if those laid off get bonuses. I suppose a good severence package could also act as a bonus in a way.

Although not a peer firm, DS is making prudent decisions to cope with the economic malaise that continues to define Commissar Obama's reign. I wonder if the terminated associates and staff wish they can go back in time and re-cast their fateful votes of last November. Change has arrived for them.

What is with this ShaFeef character and his fixation with Kash's private area?

The biggest change in the biglaw model as a result of this recession is that the layoff stigma has been completely obliterated and all associates have basically become short term contract workers that can be shown the door at any time. I predict that the flip side of this is that if (and I said "if") the economy ever starts roaring again, associates will demand a larger piece of the revenue pie to compensate for the loss of job security that they thought they were getting in exchange for accepting less pay than investment bankers, for example, get.

PE,

Enough with your idiotic political drivel. No one gives a shit about what some retarded loser portraying some douchebag partner on a festering website has to say about the current state of politics. Get a life you fucking clown.

Sounds like forced attrition to me. No one is leaving because it's too difficult to lateral, so they are trying to figure out who would have left in more normal times. Good lawyers, I'm sure, just not the ones they expected to be future partners.

And the timing is likely all about paying severance with the money that they otherwise would pay out in bonuses.

How about a discussion of this:
Detention officer tries to explain why he swiped attorney's file
http://www.heatcity.org/2009/10/detention-officer-tries-to-explain-why.html

11 and 29 - thanks for your comments. I got laid off from Bingham earlier this year and considering the situation, they took good care of me going out. No hard feelings -- just the shitty life we have to live right now no matter what it is you do for a living.

PE, please go see Doctor Emeritus about your problem, constantly repeating oneself to people who aren't interested in what you are saying is an early sign of dementia. Also, your firm Sullivan & Cromwell is neither peer nor preeminent. That is all.

Client9 -- because Kash is prettier than ShaFeef's camels?

CHRISTIE!!!!!

Well played 12, well played

Elie - I find I dislike you and yet we have never met. Can you explain this please because I am sure it has happened to you before.

Client9, be careful. Anger ShaFeef and feel the cold steel of his scimitar!

Ouch! That stings!

Any word on MWE re-deferrals?

This would never happen at Paul Hastings

What does 3% translate to in terms of human beings? More than a dozen?

I can't wait until I get laid off so that I can start my own shtick. Not sure if I will go political or the elitist snob route. Maybe both.

One thing is for sure, I will make sure that I add as little value as possible to any post in which I comment. This is my promise. Oh yeah, I will never be amusing or insightful either.

--Taking Suggestions

what practice areas were most affected?

10, where did you hear that some incoming associates were starting early?

50 people (attorneys and staff) is what I heard from a Dickstein partner

next flood of blood will come pouring from 53 state street

next flood of blood will come pouring from 53 state street

I am a jobless 3L at Michigan and I want to kill myself.

DS does not take such things lightly and their decison is hard felt by all. The law firm business model is what it is, or whatever it will become, but do not denigrate a genuine sentiment expressed by a genuine person. It simply is, and it sucks, but it is deeply felt, make no mistake.

The business model is fine, but the prices (billable rates) have to come down.

@ 65 --- puh-leeeeeeeese. Calculate how much dough is being saved. Don't characterize boilerplate "we feel badly language" for heartfelt regret and concern about these layoffs. What did you expect the marketing and labor and employment attorneys to write?

66 had bingo. Every sentient client knows that it can get 95% of the lawyering for 50% of the rate elsewhere. Biglaw now preys on idiots who think that by paying the highest rates, they are getting the best.

64 - please do so immediately ==> jobless = worthless.

60- they called a friend of mine to start early (in the DC office).

comprehensive separation package (salary) = 1 weeks pay x number of year(s) employed

12: It's true, but security really didn't make a big thing of it.

Is this economy mine yet?

34 - Partners aren't making money off of associates? Partners don't have any business, why are they still around? Some firms, the fair firms, asked some of their partners to leave as well, that's fair. Why just associates and support staff? Business is business, if they can't bring in the money then they should get laid off as well. Harsh decisions, and everyone would feel bad for them as well, but it is what it is.

Nannes is a good dude. For real.

3% of DicksteinShapiro associates/counsel = 6 or 7. Plus, 45 staff were let go. There also have been a fair number of partners shown the door over the last 10 months or so. The decisions have been business based and, following that line of thought, they also have been cheap. The value of the severance package is appallingly small compared with the number of years of service involved and the likelihood that these folks will find jobs any time soon. That is where the greed came in.

I hope DS does not have its BIG Christmas party this year...that would be appalling and a slap in the face to everyone that got laid off.

Some good people were laid off and some really bad people were left...don't know what they were thinking.

I hope DS does not have its BIG Christmas party this year...that would be appalling and a slap in the face to everyone that got laid off.

Some good people were laid off and some really bad people were left...don't know what they were thinking.

Management at DS was told that associates generally were willing to take an across the board paycut to avoid further layoffs among their colleagues. Those are the only truly generous people at the firm.

They usually throw a party at the Rainbow room ---perhaps they should have a gathering a local bar this year.

As for the "comprehensive" package --- there is no "reach around" whatsoever for the people who were let go. It is woefully inadequate and undermarket. Why? because they can....

Go Dickstein...I heard the Lay Offs in IT were a political strategy and personal vendeta by Jones and Kennedy...

Who is Jones and Kennedy? Personal vendata? Elaborate please. What departments were effected by this lay off?

What about the other firms that have asked people to leave recently (other than the couple of firms reported this week on ATL).

C'mon ATL, get to it.

Is it economic reasons or are they just being greedy because it is the end of the year?

Report on bonuses and raises too.

I was part of the blood bath. 76-you are so right, as far as I knew no party
, but 90 were axed could be! 77-you are also right, people in my group on the phone all day long boo hooing bout their family, their husbands, their phyco problems, and of course their pets. 2hr lunches and many 30 min breaks, did they work, I know not. They let go the people who worked and work hard, GAWD that is wrong with that place, glad I am out!

83. 90 sounds more like it, they are good for giving wrong numbers when it comes to layoffs.