Layoffs

Nationwide Layoff Watch: Schulte's November Layoffs Become Official

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In November, we reported that Schulte was letting people go. We noted that Schulte decided to lay people off before the holidays.
Now it appears that Schulte wasn’t exactly being a total Scrooge. It looks like Schulte let people know they were going to be fired back in November, but those layoffs become official this Friday.
Well, at least people were still able to draw a paycheck through the holidays. I imagine the holiday season unemployment line is one of the most depressing places on earth.
In November, we reported that 13 people had been let go. Now that people are actually set to leave the office, that number has gone up.
Details after the jump.


Tipsters tell us that many more people have been laid off from Schulte than we previously reported:

There are 36 total: 34 associates (including at least 10 first years), 1 staff attorney and 1 special counsel. This is obviously considerably higher than the total initially reported, and includes 7 in litigation (one in the DC office, the only layoff there), 6 in investment management, 3 in finance and 2 in tax.

As we noted in November, the first years laid off are not first years that just started at the firm. They’re people from the class of 2008 who arguably had a little bit of time to show their stuff. Consider it more evidence that the class of 2008 has been totally screwed.
Let’s hope that we’re on the back end of Biglaw layoffs. Nobody wants to have 2010 drenched in the blood of 2009.
Earlier: Nationwide Layoff Watch: Schulte Gets Things Done Before the Holidays
The Class of 2008: The ‘Lost Generation’ Revisited

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