Layoffs

This week has been a big one for rankings. On Monday, the American Lawyer released the 2014 Am Law 100 rankings, chronicling how Biglaw fared in 2013. Last night, we released our top 50 law school rankings, based on the latest employment data from the ABA.

The process of getting measured causes people to modify themselves toward the metric; just ask any bride trying to fit into her wedding dress. So it shouldn’t be surprising that, with rankings on the brain, law firm leaders have been cutting headcount to boost profits.

Which major law firm just announced double-digit cuts, perhaps in an effort to get into fighting shape by Memorial Day, before the arrival of summer associates?

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Over the past year or so, we’ve heard a steady trickle of negative news out of Dickstein Shapiro. The trickle has turned into a stream, so it’s now time to share what we’ve learned.

Let’s start with the numbers — grim numbers. Yesterday the Legal Times reported on what it described as Dickstein’s “worst year in more than a decade.” Revenue fell by 20 percent in 2013, and net income dropped even more sharply, by 35 percent. According to the Legal Times, the firm’s 2013 net income of $36 million is the lowest the firm has seen since before 1998, its first year on the Am Law 200.

Chairman James Kelly tried to spin this performance as “restructuring” and “investment,” as the firm focuses on its core practice areas. According to Kelly, “We made a strategic commitment to be a market-leading specialty firm. We decided we’re not going to be everything to everyone.”

“Everything” would appear to include “employer.” Let’s hear about the firm’s headcount cuts — affecting partners, associates, and staff — and check out the severance agreement that one source leaked to us….

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(Plus a leaked severance agreement.)”

Lindsay Lohan

* Noah “Kai” Newkirk, the protestor who disrupted Supreme Court arguments in February, was sentenced to time served and barred from the court. Don’t worry, we’ll get you all the SCOTUS clerk news you need, cutie. [Associated Press]

* “There are still a lot of firms out there hoping the good old days are going to return, and are finally coming to the realization that that isn’t going to happen.” More on Biglaw layoffs. [Am Law Daily]

* Yet another law school gets its rating downgraded by Moody’s. As a standalone school with “substantial declines in JD enrollment,” Vermont Law’s outlook is now negative. Sad trombone. [Moody's]

* Jason Bohn, the heavily indebted law school grad once profiled by the New York Times, was convicted of murdering his girlfriend last month, and now he’s been sentenced to serve life in prison. [New York Post]

* “Is the Tax Code really 70,000 pages long?” No, not really. We wonder who started the rumor that it was so long, because in reality, it’s only about 2,600 pages long — which is still way, way too long. [Slate]

* It appears that the apple doesn’t fall too far from the tree with this celebrity family. Lindsay Lohan’s mother, Dina Lohan, pleaded guilty yesterday to drunken driving and speeding charges in New York. [CNN]

Today has been quite the roller coaster. Layoffs here, layoffs there, rescinded offers everywhere. It certainly looks like the legal profession has a case of the Mondays.

To cap off this day of negative news, we’ve got word of yet another law school that’s offering buyouts to its tenured faculty. Yes, tenured faculty, oh my.

Which law school put this offer on the table, and how many professors are expected to take it?

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Yes, today is one of those days: a day with multiple law firm layoff stories to report (not to mention rescinded offers).

This morning we brought you news of 20 support staffers losing their jobs and 10 offers getting rescinded. Now we share with you the story of a firm cutting almost 40 people.

Which firm just joined the nationwide layoff club?

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Over the course of the past two months, we’ve been able to allow only one week to pass without the mention of a layoff or buyout of some sort, whether it be from a law firm or a law school.

These layoffs haven’t affected only handfuls of people — with about 20 people here, and more than 50 people there, hordes of law firm and law school personnel have been thrust into the unemployment line in recent weeks. Today, we’ve got word on yet another double-digit law firm layoff, this time coming amid the “surreptitious firing” of associates and the defection of several partners.

Which firm is the source of this unfortunate action?

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For months, if not years now, the Biglaw buzzword of choice has been “rightsizing.” The practice has infiltrated all sectors of the legal profession, even law schools. Pushing aside all the flowery BS explanations, we know what that phrase really means. There’s not enough money to go around, and whatever is left isn’t worth spending on you.

This week, yet another law firm decided that some of its employees were more expendable than others, conducting a double-digit layoff.

How many were let go, and which firm was it?

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Throughout the past few weeks, several law schools have been hit hard by the realities of the market for legal education — there have been faculty layoffs and buyouts galore. We suppose this is what happens when people stop applying to law school in droves. Rather than offsetting the financial losses by charging higher tuition, most schools are “rightsizing” themselves by cutting faculty positions they deem unnecessary, a big blow to those ivory-tower elites who believed their jobs were secure.

But because nothing in the legal profession is very secure anymore, today we’ve got news of layoffs from a public law school facing major budgetary issues thanks to a gigantic funding gap across the entire university system.

Which law school could it be? Keep reading to find out…

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As we noted earlier today, the legal sector has added 2,300 jobs since the start of 2014. For an industry that currently employs more than 1.1 million people, 2,300 new jobs doesn’t sound like a lot — but hey, it’s better than shedding jobs.

Note that we’re talking about net job growth. Some legal employers are hiring, while others are firing.

Which major law firm just laid off a total of 52 lawyers and staffers last week?

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Trade-ins happen all the time. Texas lawyers trade in their Lexuses (Lexi?) for newer models. Law firm partners trade in their wives for newer models too.

Today’s Biglaw layoff story involves a trade-in of sorts. A prominent law firm restructured its IT department, resulting in double-digit departures. But then the firm turned around and posted some of those positions to a job board.

How many positions, and which law firm?

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