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).