http://abovethelaw.com/2010/01/last-year-in-layoffs/ Above the Law: A Legal Web Site – News, Commentary, and Opinions on Law Firms, Lawyers, Law School, Law Suits, Judges and Courts Wed, 15 Feb 2012 01:42:50 +0000 hourly 1 http://wordpress.org/?v=3.0.5 http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163631 guest Tue, 05 Jan 2010 12:43:04 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163631 Got to agree with 17 on this. Stealth layoffs were all over the place, not to mention deferred and revoked start dates, "sabbaticals", etc. Got to agree with 17 on this. Stealth layoffs were all over the place, not to mention deferred and revoked start dates, “sabbaticals”, etc.

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163630 guest Mon, 04 Jan 2010 17:18:14 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163630 5,9- I think it's more accurate to assume that the average v100 firm has approximately 400-500 associates (we probably don't want to look at partners and staff) as most have around 700 total lawyers. Some are much larger (Jones Day) and others are much smaller, but I think that's a pretty fair mean number. That would give us a total number of 50,000 and put the layoff percentage right around 4.6% (not exact, but definitely fair). It's also important to consider the fact that most firms conducted 100% of their layoffs as performance reviews. For example, my firm (V20) laid off approximately 20% of its associates in this fashion. Under these two assumptions, I think it would be more than fair to put the total number of layoffs well above ten percent for 2009. 5,9-
I think it’s more accurate to assume that the average v100 firm has approximately 400-500 associates (we probably don’t want to look at partners and staff) as most have around 700 total lawyers. Some are much larger (Jones Day) and others are much smaller, but I think that’s a pretty fair mean number. That would give us a total number of 50,000 and put the layoff percentage right around 4.6% (not exact, but definitely fair).
It’s also important to consider the fact that most firms conducted 100% of their layoffs as performance reviews. For example, my firm (V20) laid off approximately 20% of its associates in this fashion.
Under these two assumptions, I think it would be more than fair to put the total number of layoffs well above ten percent for 2009.

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163629 guest Mon, 04 Jan 2010 16:31:21 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163629 Nice job, 9 -5 Nice job, 9
-5

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163628 guest Mon, 04 Jan 2010 15:03:27 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163628 2010 has the ring of Armageddon 2010 has the ring of Armageddon

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163627 guest Mon, 04 Jan 2010 14:04:37 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163627 Has it occurred to anyone that 2010 could easily be worse than 2009? Has it occurred to anyone that 2010 could easily be worse than 2009?

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163626 guest Mon, 04 Jan 2010 13:56:45 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163626 The worst year of my life is finally over. The worst year of my life is finally over.

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163625 guest Mon, 04 Jan 2010 12:33:48 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163625 CHECK YOU OBESE WALRUS CHECK YOU OBESE WALRUS

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163624 guest Mon, 04 Jan 2010 12:28:00 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163624 Great story. Way to start the new year off with a bang. Great story. Way to start the new year off with a bang.

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163623 guest Mon, 04 Jan 2010 12:24:40 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163623 SHAFEEF SHAFEEF

]]> http://abovethelaw.com/2010/01/last-year-in-layoffs/comment-page-1/#comment-163622 guest Mon, 04 Jan 2010 12:20:44 +0000 http://wp.abovethelaw.com/2010/01/last-year-in-layoffs/#comment-163622 5, There are approximately 130,000 lawyers in firms listed in the NLJ 250 (http://www.law.com/jsp/article.jsp?id=1202425894490). This doesn't compare directly to the vault rankings, but even a weighted comparison would put no more than maybe 75,000 lawyers in the vault 100. According to the Lawshucks summary linked above, the vast majority of the layoffs they tracked came out of Vault 100 firms. So, 4633 is actually quite a bit comparatively. If we considered it the whole NLJ it's still about 1%, if we consider the much smaller vault number it's more like 5%+ of the layers in vault 100 firms. But again, That 130,000 in the NLJ 250 is just over 10% of all lawyers, so with these layoffs we're talking about 5% of a group that is itself only about 10% of all total lawyers. 5,
There are approximately 130,000 lawyers in firms listed in the NLJ 250 (http://www.law.com/jsp/article.jsp?id=1202425894490). This doesn’t compare directly to the vault rankings, but even a weighted comparison would put no more than maybe 75,000 lawyers in the vault 100.
According to the Lawshucks summary linked above, the vast majority of the layoffs they tracked came out of Vault 100 firms.
So, 4633 is actually quite a bit comparatively. If we considered it the whole NLJ it’s still about 1%, if we consider the much smaller vault number it’s more like 5%+ of the layers in vault 100 firms.
But again, That 130,000 in the NLJ 250 is just over 10% of all lawyers, so with these layoffs we’re talking about 5% of a group that is itself only about 10% of all total lawyers.

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