Voluntary retirement

In a recent survey, managing partners of large law firms expressed tepid expectations about demand for legal services. So it’s not surprising that cost cutting — or, to put it more nicely, expense-management initiatives — remain popular in Biglaw.

Who’s the latest major law firm trying to reduce its payroll through a voluntary retirement program?

double red triangle arrows Continue reading “Voluntary Buyout Watch: Biglaw Firm Seeks To Thin The Herd”

Nothing brings out the knives more than losing jobs, and as a law school looks to send tenured faculty packing, the knives have come out in force.

A trustee defending the dean ripped the faculty using words like “smear campaign” and “mudslinging.” A professor countered saying the dean’s “leadership style is creating fear, a hostile work environment.” Well, looks like these kids are getting along swimmingly. This is what we have to look forward to all over the country as the law school bubble bursts and topples law schools all over.

In the meantime, let’s enjoy the public backbiting of Bravo’s new series, The Real Law Professors of…

double red triangle arrows Continue reading “Administration And Professors Sling Mud As School Sheds Tenured Faculty”

We’re midway through Biglaw’s second quarter, and this will be the third week in a row we’re covering law firm layoffs or buyouts of some variety. This just goes to show that no matter how well a firm does, it’s always looking to do better, and the easiest way to do so is by managing human expenses.

Sometimes the firms attempting to trim their ranks are members of the “Super Rich,” with high revenues per lawyer (at least $1 million) and even higher profits per partner (at least $2 million). Other times, these firms are rich but not super-rich — firms that generally saw “modest, hard-won gains” last year, according to the American Lawyer.

The firm we’re writing about today falls into the latter group, with relatively small financial gains in 2013. Despite this, it’s still offering “very generous” packages to inspire employees to walk away….

double red triangle arrows Continue reading “Respected Biglaw Firm Offers Buyouts To Almost 40 Employees”


It was just last week we were informed that the firms designated as “super rich” among all other Biglaw firms — specifically, the 20 with profits per partner of $2 million or more and revenue per lawyer of $1 million or more — were only getting richer.

That being the case, we can’t imagine that these Biglaw titans are hurting for cash, especially when the chasm between the super rich and everyone else keeps growing wider and wider.

This is why we were shocked to find out that the top-tier law firm recently revered for having the best brand in the business was trying to trim its ranks with offers of buyout packages…

double red triangle arrows Continue reading “Voluntary Buyouts Being Offered By Biglaw’s ‘Best Brand’”

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?

double red triangle arrows Continue reading “Yet Another Law School Is Offering Buyouts To Its Tenured Professors”

I recently had dinner with the dean of a law school. To give you a sense of this person’s perspective, I’ll say that he (or she, but I’ll use the masculine) is responsible for a law school that U.S. News ranks somewhere between 50 and 100. His school has thus been hammered by the Great Recession and the decrease in applications to law school, but the school is not (yet) thinking of turning out the lights.

I didn’t actually pry into what was happening at his school. He simply volunteered that his life was far different now than it had been a very few years ago. I guess that’s no surprise, given the tumult of the times.

Anyway, what are law school deans doing these days?

double red triangle arrows Continue reading “Dinner With A Law School Dean”

As law school class sizes continue to shrink, whether due to students’ lack of interest in acquiring six figures of debt or law schools “right-sizing” to maintain student quality, something has got to give so there’s enough money to keep the lights on.

But layoffs are harsh, so clearly the next best thing is to politely ask faculty members to purge their presence from the wonderful world of gainful employment in the ivory tower — with some additional monetary incentive to sweeten the pot.

Which law school is asking its tenure-track faculty members to quit for the greater good?

UPDATE (3/26/2014, 9:30 a.m.): Please note the UPDATE added below.

double red triangle arrows Continue reading “Law Profs, If You Could Just Go Ahead And Quit, That Would Be Great”

The legal profession is not what it once was. It seems like every week, we’re writing about the same topics, over and over again: tumbling profits, partner departures, and layoffs. Biglaw’s focus on the bottom line is even sharper than in years past, and that means that when firms are hurting for cash, the first thing they’ll cut is “excess” personnel.

For a firm that sank like a stone in the most recent Fortune “Best Companies to Work For” rankings, sliding from #62 to #81 in just a year’s time, reducing ranks is sure to earn it another demotion.

Not so fast, though, because to our knowledge, this leading law firm isn’t desperately seeking dollars, and it’s not conducting layoffs just yet, either — instead, generous buyout packages are being offered…

(Please note the UPDATES to this post below.)

double red triangle arrows Continue reading “Voluntary Buyouts Offered By Yet Another Top-Tier Law Firm”

When a Biglaw firm gets a new chairman, you can be relatively sure that things are going to change, especially if the firm is in the middle of the pack in terms of size and profitability.

Sure, the firm might have been happy being in its Goldilocks position before, but this is the New Normal. Maybe being not too big, but not too small just isn’t going to work anymore.

This firm may have the urge to merge — it’s already spoken to “three or four” potential partners. As we know, with mergers come reductions in redundancies, and it seems like this firm is looking to slim down to be a more attractive mate.

Which firm are we talking about, and how many heads are expected to roll with its planned cuts?

double red triangle arrows Continue reading “Voluntary Buyout Watch: Stepping On Toes To Prune Personnel”

As more and more people discover that law school is not the “get rich quick” scheme that they once thought it was, applications continue to plummet. As of late January, law school applications were down 13.7 percent from where they were in 2013. The loss of student revenue is killing the bottom line at some law schools, and members of their administrations don’t like it one bit.

These ivory tower inhabitants seem terrified and are reacting accordingly, having been forced to deal with the dearth of applicants and enrollees in all sorts of ways. Some law schools are doing the right thing and lowering tuition in the hopes of luring students to their once hallowed halls.

Others are hacking and slashing away at their faculty and staff, just like law firms. First came news of the potential purge of junior faculty at Seton Hall (which was fortunately averted). Next came the staff massacre at McGeorge. Then Thomas Jefferson started handing out pink slips, and all hell broke loose.

Which law school is the latest to announce a possible pruning of its ranks? We’ll give you a hint. This law school is located in New York, a state with 15 law schools to choose from, several of which have been sued over their allegedly deceptive employment statistics…

(Please note the multiple UPDATES added to this post.)

double red triangle arrows Continue reading “Tenured Faculty Cuts Are Coming To A New York Law School — But Which One? And When?”

Page 1 of 3123