When we said “Dear Biglaw Firms, Please Don’t Raise Salaries” we raised the grim prospect of a firm moving too fast and putting themselves in a bad financial spot. If bumping your salaries requires showing a bunch of your staff the exit, then maybe you don’t need to be racing to keep up with the Cravath-eses.
On the other hand, a firm could lay off staff for reasons wholly unrelated to its announced salary bump. There’s such a thing as too much staff even if a firm can easily afford it. But to start slimming down one day after raising associate salaries to match Cravath’s figure? That’s just terrible, terrible timing.
Last night, we started hearing reports out of Bracewell:
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Staff layoff train is rolling through at Bracewell today, day after raises, lots of secretaries being walked out.
Pretty deep cuts, word on the street is no one wants the summers to see.
There’s a pretty easy way to keep the summers from seeing this… wait until September. Assuming the additional staff isn’t breaking the bank — which it must not have been, if the firm’s able to raise attorney salaries starting next month — it’s a small price to pay to keep up appearances.
When reached for comment, a firm spokesperson explained:
Our recent decisions regarding administrative personnel were the result of a thoughtful planning process designed to bring our support staff ratios in line with our peers.
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One has to assume Bracewell had this day circled on the calendar for layoffs all along, and the Cravath-induced fire drill was just an unlucky happenstance. Perhaps, but that’s when the firm has to consider the optics. Walking your more seasoned yet lower-paid staff to the door past some 23-year-olds working their first grownup job (if you can call being a summer a “job”) and glowing about pulling down $3500/week is a recipe for bitterness. The staff feels bad that they’re getting tossed for punks and the associates feel bad that their hard-earned raises hurt people they know. Even if the layoffs are completely unconnected.
We wish all of the legal professionals affected at Bracewell the best of luck while they seek new job opportunities in the legal industry and beyond.
If your firm or organization is reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, then you really should be letting us know. Our vast network of tipsters is what makes Above the Law work. You can email us or text us (646-820-8477).
Earlier: Dear Biglaw Firms, Please Don’t Raise Salaries
Monday Night Money Party: Another Firm Announces Salary Hikes (Bracewell)
Joe Patrice is an editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news.