Reports are trickling in, but it looks as though at least 13 associates at Schulte Roth have received pink slips today. We have reports that some of the layoffs at least came from the real estate practice group, but no hard numbers as of yet. We’ll update this as more tips come in. If you have any additional information to share, send us an anonymous tip here.
Schulte Roth & Zabel is one of the top 100 largest law firms by revenue. The firm was founded in New York City in 1969 and launched in London in 2002. The firm also has an office in Washington, DC. Schulte employs nearly 450 attorneys in its three offices.
Posted by joshua
on November 17, 2009. Filed under Home,Law Firm 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. [...]
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Anonymous
November 17, 2009 at 4:34 pm
at least one was in litigation.