It may be layoff season among Biglaw firms, but one of them finally has some good news to report in the wake of two rounds of stealth layoffs and the deferral of its incoming associate class.
Back in September, Silicon Valley powerhouse Gunderson Dettmer became the first (and only) major firm that we know of to defer its incoming associates’ start dates into the new year due to a slowdown in demand. New associates were originally supposed to start work on October 31, 2022, but that date was pushed to January 17, 2023.
Seeing as that’s just one week away, will Gunderson associates finally be welcomed by the firm? Bloomberg Law has an update on that.
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A crop of new associates who had their start dates delayed two-and-a-half months are set to begin at the Silicon Valley-based firm Jan. 17, according to a spokesperson for Gunderson Dettmer Stough Villeneuve Franklin & Hachigian. They’ll begin their careers as at least two other firms with deep tech roots—Cooley LLP and Goodwin Procter—recently trimmed headcounts.
It may be a little nerve wracking to begin your career with a firm that’s fresh off a series of layoffs, but for better or worse, Gunderson’s incoming associates have already survived one phase of the firm’s austerity measures — and gotten paid for it (reduced pay, of course). Yes, the fear of additional layoffs is still palpable, what with other top firms outright laying off associates en masse, but it may be a good sign that Gunderson has decided to onboard its new associates rather than delay their start dates even further. The firm wouldn’t dare lay off its most junior lawyers after already preventing them from starting their jobs on time, right? *gulp* … Right?
We wish the best of luck to Gunderson Dettmer’s new associates. Stay positive, but if things seem like they’re headed south, you know where to reach us.
How will your firm handle the turmoil of sluggish demand? If your firm or organization is reducing the ranks of its lawyers or staff, whether through deferrals, open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).
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Gunderson Associates Set to Start After Delay, Amid Layoffs (1) [Bloomberg Law]
Earlier: Biglaw Firm Defers Associate Start Dates To 2023 Due To Work Slowdown
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.