On April 30th we reported that Mark Levy, a partner at Kilpatrick Stockton, committed suicide at the firm’s DC office. Levy had been asked to leave the firm a day earlier as part of layoffs.
Today we learn that two weeks ago, an unnamed female associate at Simpson Thacher died, apparently at her own hand. She had been recently laid off from the firm.
JDJournal extends its condolences to both families. The only possible good that can come out of these tragedies is if they inspire anyone depressed or stressed by the wave of layoffs or the collapse of the economy to seek help rather than harming themselves.
Posted by Erik Even
on May 5, 2009. Filed under Home,Law Firm News,Layoffs,Legal News.
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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. [...]
May 16, 2013 Read More
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Anonymous
May 6, 2009 at 7:08 am
There must be good counseling agencies in NY and DC available. Do that reserarch and publish a list. Not everyone has psych coverage or can afford Cobra, so this will benefit staffers and others.
I believe all firms should start providing this long before the lafyoffs are announced. In this economy people should be preparing and prepared for the worst, and not just praying for the best.
Anonymous
May 17, 2009 at 6:45 pm
The solution is to bring back bankruptcy protection for student loans. People go into default because they are depressed and can’t find work and are screwed for life. I’d have no problem having to turn in my law license. It’s worthless anyway. But let us go bankrupt so we can do something….. I mean Jesus Christ I’m retraining as a teacher, how the hell am I going to leave on a teacher’s wage paying back this loan?