A tipster informs us that Texas’ Brown McCarroll has laid off a “significant number” of attorneys and staff in its Austin, Dallas and Houston offices.
From the tipster (edited for length):
All the personnel who received the proverbial “pink slip” were given no notice of the impending dismissals. In fact, the day of receiving notice of the layoff was their last day of employment. Strong hints were given to the surviving attorneys and staff that further layoffs are still being considered. Capital partners beware — you are not immune. Inside information suggests an additional three dozen or so attorneys and staff could be laid off within the next three to six months.
Seventy-year-old Brown McCarroll has historically focused on litigation as a core practice area. Its 2003 merger with business law firm Hilgers & Watkins added a corporate and transactional practice.
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In addition to the layoffs, the admin staff were told that raises are on hold until March 2010, at the earliest, that the two weeks’ pay bonuses will not be given at the end of this year, and that the annual holiday party has been cancelled for 2009. The attorneys, however, will still receive raises and bonuses (certainly more than two weeks of pay). The only cut for the attorneys will be the cancellation of the firm retreat, which most attorneys despise anyway. In this writer’s opinion, as cost cutting measures, these cuts are nonsensical. If it is management’s intent to trim the fat, why stop with the staff’s bennies? Institute across-the-board freezes on pay raises and bonuses for everyone. Management Committee, why not set an example to the rest of the employees by demonstrating a self-sacrificing spirit? Think of the positive message it would be for the rest of the “team” that you, also, are personally willing to do whatever is necessary to preserve the company in this tough economy or is that too much to expect?