Florida’s Ruden McClosky, which laid off two lawyers and 18 staff in May, and cut associate and non-equity partner compensation in June, has laid off an additional eight lawyers.
The layoffs affected associates at the firm’s litigation, corporate and land-use practices.
Ruden’s gross revenue fell by 9%, to $85.3 million in fiscal 2008.
Fort Lauderdale, Florida’s Ruden McClosky [...]
3. July 2009
Linklaters, which announced in April salary cuts for starting lawyers and reduced salary increases, is now the UK’s largest firm by revenue, reporting income of £1.3 billion ($2.13 billion).
But profit per equity partner fell 9.6% to £1.3 million ($2.12 million).
Europe and the Middle East produced 83% of Linklaters’ revenue; Asia produced 11%; and the Americas [...]
3. July 2009
Recent laterals and layoffs in the legal sector:
Steven M. Goldman joins the New York office of Kramer Levin Naftalis & Frankel. He has resigned as New Jersey Commissioner of Banking & Insurance. He was previously a senior member and 22-year veteran of Sills Cummis & Gross. His JD is from the George Washington University [...]
3. July 2009
Addleshaw Goddard, which cut 19 partners in February and 85 staff in March, saw a 30.8% plummet in partner profits in fiscal 2008; and turnover fell 11.4% to £173.3 million ($285.5 million).
Profits per equity partner nosedived from £586,000 ($958,000) to £405,000 ($663,000).
The firm is considering reduced work hours and unpaid sabbaticals. There is already a [...]
3. July 2009
A survey by the Dublin Solicitors Bar Association reports that 40% of new and low-level solicitors in the city have taken pay cuts averaging 15%; and 40% of incoming new solicitors have been laid off or lost their job offer.
Furthermore, 40% (there’s that number again) are working without a contract; and 30% are considering changing [...]
3. July 2009
Allens Arthur Robinson, which in April offered up to one year’s pay to lawyers who take voluntary redundancies, has seen 114 employees take up the offer and leave the firm.
The redundancies included lawyers, corporate services staff, and secretaries. Twelve people who asked for voluntary redundancies were refused.As
By offering the voluntary redundancies, Allens Arthur says it [...]
3. July 2009
Good morning! If you have today off for Independence Day, enjoy it. JDJournal is a seven-day-a-week, 365-a-year concern — I don’t even remember what holidays are like. Here are the top stories. Blank Rome is cutting starting salaries for incoming associates… The Obama administration has released salary information for its 46 staff lawyers… Seyfarth Shaw has brought on a [...]
Continue reading...2. July 2009
Recent laterals and layoffs in the legal sector: Tom Reilly joins Cooley Manion Jones in Boston, from Greenberg Traurig. He joins the firm as of counsel. Cooley is a former two-term Massachusetts state attorney general Gordon Peilow joins the City of London’s Cubism Law, where he will advise on trademark & copyright matters, IT contracts & litigation, [...]
Continue reading...2. July 2009
Howrey, which we reported a little over a week ago was in talks to acquire scandal-plagued intellectual property firm Day Casebeer, has announced that the merger is official. Twenty-five of the 26 attorneys at Day Casebeer joined Howrey’s Palo Alto, California office, effective this week. The partners include James Batchelder, Linda Sasaki-Baxley, Renee Dubord Brown, Lloyd Day [...]
Continue reading...2. July 2009
Chicago-based Seyfarth Shaw, which in May laid off 50 people and reduced salaries, has brought on a new team of corporate and technology partners from Alston & Bird. Robert C. Reynolds, Jr. is an outsourcing lawyer who co-founded Alston & Bird’s energy infrastructure team. He received his JD from the Vanderbilt University Law School, where he [...]
Continue reading...2. July 2009
The Obama administration has released salary information for its 46 staff lawyers. The highest paid is Gregory B. Craig, whose tiles are Assistant to the President and Counsel to the President. The Yale Law School graduate, who held the same position in the Clinton administration, pulls down $172,200 per year. Rounding out the top five: Virginia R. Canter, [...]
Continue reading...2. July 2009
Blank Rome is cutting starting salaries for incoming associates. The rundown is as follows: New York City: $145,000, down from $160,000 Philadelphia & Princeton: $130,000, from $145,000 Wilmington & Washington DC: $135,000, from $150,000 Associates already with the firm will see their pay cut between 2% and 10%. The new salaries go into effect in two weeks. Blank Rome LLP is the [...]
Continue reading...2. July 2009
Good morning! Here are the top stories: Baker Botts has opened a new office in Abu Dhabi, United Arab Emirates, and is expanding its other two Middle Eastern offices… The University of Miami School of Law is asking incoming 1L students invited to start in the Fall to defer their entry into the law school until Fall [...]
Continue reading...1. July 2009
San Francisco’s Orrick, which laid off 300 employees in March, is abandoning lock-step compensation for associates. Under a lock-step scheme, associate salaries are determined entirely by how long the associate has been with the firm. Orrick’s new compensation model places associates on the partner track into one of three levels: Associate, Managing Associate, and Senior Associate. Compensation [...]
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3. July 2009
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