Wachtell Lipton, Looking Out For The Little Guy

Who needs to resort to layoffs when your profits per partner are this high?

We would not put a family’s breadwinner out on the street and change his and his family’s life so the partners can make a couple more dollars. That attitude comes down from the white-haired gentleman.

Daniel Neff, co-chairman of the executive committee of Wachtell Lipton, commenting to the American Lawyer about the firm’s ‘no layoffs’ policy — which Neff attributes to founding partner Martin Lipton (he of the white hair).

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