Seyfarth Shaw announced a headcount reduction of 30 attorneys today.
It’s been an interesting year for Seyfarth, currently ranked 65th on the AmLaw 100.
In July, the firm announced that it would push back the start date of its first year associate class. Last month, the firm picked up a 14-attorney team (nine corporate and finance attorneys, four trusts and estates lawyers and one real estate attorney) from Thelen. Now, layoffs.
Could the firm cap the year with a merger announcement?
Posted by admin
on December 5, 2008. Filed under Home,Law Firm News,Layoffs.
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Law firms of all sizes are being much more selective about who makes equity partner. Gone are the days where doing good work and putting in your time is enough to get you to a profit sharing level. Today, equity partners almost always have to prove that they can contribute their share to the firm. So what does this mean for associates and how can a two-tiered partnership track be beneficial? With a two-tiered partnership structure, associates get more time to prove themselves and also more time to determine whether partnership is the right goal for them. Two-tier partnerships (non-equity and equity) exist so the firm can train and develop associates into equity partners. The non-equity track to partner at most firms is on average, 6 years long. [...]
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