Layoffs

Nationwide Layoff Watch: Cahill Gordon Resolves To Lose Some Weight

Cahill Gordon logo.jpgLast January, Cahill Gordon & Reindel started the year by cutting approximately 10% of its associates. Sources report that 2010 is off to a similar start.
Says one tipster:

[I]t’s about 20-25 people. Mostly younger associates but some more senior people as well. Standard 3 months severance….
[I]t’s being termed performance based, typical stuff related to year-end reviews, etc. But the subtext and what people are being told is that it’s largely about there being too many people.

We reached out to the firm for comment this morning, but have not yet heard back. One of our tipsters claims that this round of layoffs will make Cahill New York as white as freshly-fallen snow…


This has not been verified and the firm has not commented, but our tipster says:

Another round of layoffs at Cahill. Not surprising because they’re so slow. However what is a bit shocking is the strong lean toward women and people of color. For example, in the junior associate ranks there are virtually no corporate women left. And, with this last round, there are officially zero black associates firm wide.

So much for “creativity and innovation“?
Earlier: Nationwide Layoff Watch: Cahill Gordon
Nationwide Layoff Watch: Cahill Gordon, Round 2

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