We weren’t sure we’d do a follow-up to yesterday’s post on the firm-wide meeting at Jenner & Block. But since there was a fair amount of speculation in the comments, as well as requests for updates, we thought we’d close the loop.

Based on what we’ve heard from our own sources at the firm, we can confirm the accuracy of this comment:

The conference room was packed- five deep along the walls. Everyone was there right on time. Levy introduces herself. Tells us not to worry about the issues on wall st- they will not adversely affect Jenner’s bottom line. Jenner is having a great year and bonus are expected to be as good or better than last year. Litigation is doing great. Keep up the good work. blah, blah. No merger, or layoffs, no LA office, no moving to Chile. All is good.

Another source described the meeting as follows:

It was basically a hand-holding pep talk — a “don’t worry that there will be an all-associates meeting to announce layoffs” meeting.

When your firm schedules a firm-wide or all-associates meeting, do feel free to drop us a line. Thanks.

Remember the mystery meeting held last month at Covington & Burling? It seems that Jenner & Block is following in Covington’s footsteps, announcing an “all associates” meeting for 5 p.m. today that has set tongues wagging.

In times of high anxiety, firm-wide meetings make people nervous. It’s a little early for bonus discussion, so what might be in the cards? A merger? Layoffs?

We reached out to the firm for comment. Jonathan Groner, a Jenner spokesperson, described the upcoming event as simply a regular meeting with associates, held in the ordinary course. He declined to discuss the agenda for the meeting, citing its internal nature.

Should Jenner associates be worried? Probably not. What we’re hearing is that the meeting will bring good news. Word on the street is that it’s being held to tell everyone — in the wake of Heller Ehrman’s collapse, and general economic turmoil — that Jenner is doing just fine. Managing partner Susan Levy will offer words of reassurance to all assembled. [FN1]

So the meeting is expected to be a non-event. But if it turns out to be more momentous, we will let you know.

[FN1] With respect to Susan Levy, one tipster tells us: “Yay to Jenner for selecting a female managing partner. She may not be able to see Russia from her office in Chicago, but she was ready to lead from Day 1.”

(By the way, speaking of Jenner and gender, the firm was recently honored by Working Mother as one of the best law firms for women.)

Here’s your daily dose of schadenfreude. Associates aren’t the only ones suffering in the economic downturn; partners are getting axed too. From the Chicago Tribune:

Jenner & Block, a top Chicago law firm best known for its trial attorneys, has downsized its partnership for the second time in two years.

At least 10 partners have been told in recent weeks they will have to give up their equity in the firm, with some being asked to leave, according to people familiar with the discussions….

“We periodically review how each of our partners and associates are doing and act on those reviews,” [firm chairman Anton] Valukas said. “It’s nothing different this year than we’ve done in other years.”

Guys at his high school got de-equitized all the time. It was no big deal.
Jenner & Block law firm cuts several partners [Chicago Tribune]