Associate layoffs have been the big news in 2008 thus far. Appropriately enough, they’re the subject of our latest column for the New York Observer. Here’s an excerpt:
“It’s tough. People are scared,” [one] jettisoned Cadwalader associate said. “It’s so rare that this happens. The first-years are freaked out. People are wondering: Is this continuing on a rolling basis, or did they take one big hit? People worry about [the impact on] recruiting efforts, both on a lateral basis and for incoming law students.”
The associate, like the others laid off that day, was given barely more than a week’s notice: His last day of work would be the following Friday, Jan. 18.
He’s getting three months of severance, paid out every two weeks, just as when he was employed. But he’s no longer able to tell prospective employers he’s still at the firm, which he predicts will make his job search harder.
“It’s like dating,” he said. “When you’re with someone, everyone wants you; when you’re on your own, it’s that much harder.”
You can read the complete column by clicking here.
P.S. We’ve been writing this column for a few months now. The archives are accessible here.
Will Work for Dinner at Nobu [New York Observer]
Lawyers Column archives [New York Observer]