JD Journal » deferring start dates

Pinsent Masons Defers Start Dates

Erik Even — Sun, 21 Jun 2009 18:06:15 +0000

Pinsent Masons, which is in the midst of a redundancy consultation, has asked 25% of its incoming trainees to defer their start dates.

If you have any additional information about deferrals at Pinsent Masons, or about their redundancy consultation, please — send us a confidential tip!

Pinsent Masons LLP is a full-service commercial law firm. The firm ranked amongst the top 15 law firms in the UK and internationally ranks in the Global 100. Pinsent Masons has UK offices in Birmingham, Bristol, Edinburgh, Glasgow, Leeds, London and Manchester, and internationally in Beijing, Brussels, Dubai, Hong Kong and Shanghai.

Skadden Warns Summers: You Will Be Deferred to 2011

Erik Even — Tue, 19 May 2009 16:13:27 +0000

The 2009 Summer Associate Program at Skadden has begun. And the 3Ls have been warned that, if they get an offer to join Skadden, they won’t be starting in 2010 — they will be deferred to 2011.

There are no further details on 2011 deferrals, as those decisions, such as precise start dates and stipends, have most likely not been made, and will not be for some time.

Do you have any additional details? Send us a confidential tip!

Skadden, Arps, Slate, Meagher & Flom LLP, founded in 1948, is a prominent law firm based in New York City. With over 2,000 attorneys, it is one of the largest and highest-grossing law firms in the world. Forbes magazine called Skadden “Wall Street’s most powerful law firm.”

Taylor Wessing Deferring Start Dates

Erik Even — Wed, 22 Apr 2009 21:52:57 +0000

Anglo-German law firm Taylor Wessing is asking for voluntary deferrals from its September 2009 and September 2010 incoming associate classes.

The 750-attorney firm will pay a stipend of £7,500 ($10,872). Deferred trainees will not be required to accept public interest fellowships.

The firm is offering its employees two extra weeks off each year, in exchange for a 4% reduction in salary. Taylor Wessing also plans redundancies, voluntary and involuntary, and unpaid furloughs.

Taylor Wessing LLP is an international law firm established in 2002, following the merger of UK law firm Taylor Joynson Garrett and German law firm Wessing. The firm has 13 offices around the globe; in Berlin, Brussels, Cambridge, Dubai, Düsseldorf, Frankfurt am Main, Hamburg, London, Munich and Paris, as well as representative offices in Beijing, Shanghai and Alicante, Spain.

Mayer Brown Extends Deferral Options

Erik Even — Wed, 22 Apr 2009 16:24:55 +0000

Mayer Brown announced at the beginning of April that it was deferring most incoming associates to January, 2010, with a deferral stipend of $5,000 per month.

Now the firm has decided to allow associates to voluntarily extend their deferral to October 2010, with the $5,000 a month payment and health benefits. A public interest fellowship is not required, although a program will be offered.

Mayer Brown is one of the largest global law firms both by number of lawyers and revenue. The firm has over 1,800 lawyers in key business centers across the Americas, Asia and Europe.

Rumor: Baker McKenzie Cuts Associate Salaries

Erik Even — Mon, 20 Apr 2009 22:01:31 +0000

Tipsters are informing blawgers that Baker & McKenzie has cut salaries between 10% and 25% for some associates.

We reported two weeks ago that the firm laid off 124 people. They also deferred start dates for trainees.

If you have any details about salary cuts (or anything else) at Baker & McKenzie, please send us a confidential tip. Remember to mention what law firm you’re talking about!

Baker & McKenzie was founded in Chicago in 1949 by Russell Baker and John McKenzie. One of the first law firms to be truly global, it employs more than 3,900 lawyers in more than 70 offices in 38 different countries.

Greenberg Traurig Decimates New Associate Salaries

Erik Even — Tue, 14 Apr 2009 20:01:08 +0000

Greenberg Traurig is cutting the salaries of its summer and first year associates by 10%.

First year associate start dates may be delayed. Associates will start between September and January, depending on the city and practice area. There is no deferral stipend.

The salary cuts affect all Greenberg offices.

Greenberg Traurig employs more than 1,800 attorneys and governmental affairs professionals in the US, Europe and Asia. The firm was selected as the 2007 USA Law Firm of the Year by Chambers and Partners.

Rumor: Winstead Revoking Offers to New Associates? [Update]

Erik Even — Mon, 06 Apr 2009 14:00:12 +0000

Last month Winstead, a Texas law firm with seven offices, canceled its 2009 summer associate program. The firm is offering $5,000 each to the 2Ls who are left without summer employment.

Now online sources are claiming the firm has revoked offers to incoming associates, without any kind of severance.

The firm denies the revocation rumor, stating that start dates have merely been deferred, with stipends.

If you know anything about the situation at Winstead, please — send us a confidential tip!

Winstead PC has offices in Austin, Dallas, Fort Worth, Houston, San Antonio, and The Woodlands, Texas; and in Washington, DC.

UPDATE:

A JDJournal tipsters says:

I can confirm that incoming associates have had their offers rescinded without any severance at the Houston office. It happened to a close friend of mine. In fact, the news was delivered without so much as an apology. Worse, the firm promised to do everything possible to help with outplacement, but when contacted about it, simply said they would “let them know if anything comes up,” i.e. they aren’t planning to do anything. It’s odd, really, that they would offer a severance to 2Ls without a summer clerkship, but nothing to a 3Ls with rescinded permanent offers.

Weil Gotshal Offers Big Bucks to Deferred Associates

Erik Even — Thu, 26 Mar 2009 21:04:49 +0000

Weil, Gotshal & Manges has announced it is deferring its incoming associates’ start dates to January 2010, and is asking new hires to voluntarily wait until 2011. Weil is also cutting its summer program from 12 weeks to 10 weeks.

Associates deferred to 2010 will be cut a $15,000 check.

Those who accept a deferment to January, 2011 will get another $75,000, in addition to the immediate $15,000 — if they spend the time at a firm-approved public interest organization.

Associate who choose not to work will get $60,000, on top of the $15,000.

Weil, Gotshal & Manges is an international law firm headquartered in New York City. It is one of the largest and most highly regarded law firms in the world, with approximately 1,300 lawyers and gross annual revenue in excess of $1.7 billion.

Dewey & LeBoeuf Defers Start Dates to 2010

Erik Even — Tue, 24 Mar 2009 16:20:12 +0000

Dewey & LeBoeuf has shut offices and cut pay. Now the firm has deferred start dates for its 2009 incoming class to January, 2010.

The firm is offering deferred associates a Community Service Fellowship program, worth $80,000 a year.

Dewey & LeBoeuf is a white shoe law firm formed in 2007 by the merger of Dewey Ballantine and LeBoeuf, Lamb, Greene & MacRae. The firm has 24 offices in 14 countries.

Goldberg Kohn Cuts 9 Associates, 14 Staff

Erik Even — Tue, 24 Mar 2009 16:08:49 +0000

Chicago’s Goldberg Kohn has cut about one-quarter of its associates, and will slash pay and scale back its summer associate program.

The firm dismissed nine associates and 14 support staff, and reduced salaries for all remaining lawyers and staff, with the exception of associates. The firm now has 29 associates and 48 partners.

Goldberg Kohn is also reducing the length of its summer associate program this year to eight weeks, and has delayed the start date for its incoming class of first-year associates.

An independent study of 88 of Chicago’s largest law firms ranked Goldberg Kohn third overall based on its lawyers’ academic credentials.

Update: Katten Lays Off 69

Erik Even — Thu, 19 Mar 2009 21:14:11 +0000

Katten Muchin Rosenman has confirmed it is laying off 69 people today, and cutting the salaries of “underutilized” associates.

The firm is also scaling back its summer associate program, and deferring start dates for incoming first years.

From the press release:

…like many law firms, we have had to make some very difficult staffing decisions, including today’s layoff of a relatively small number of our attorneys and staff. These reductions included 12 associates, seven non-equity partners, four other attorneys, six paralegals and 40 staff members.

This layoff was relatively small due to a new Katten program that will creatively reduce costs while preserving dozens of jobs. Under the program, underutilized associates will be placed on a lower compensation scale. This scale reduces an associate’s base salary by 20 percent if he or she did not bill within 200 hours of their billable target in 2008, but offers the chance for them to earn back their total base at the end of this year if they meet their hours going forward…

In conjunction with our new compensation program, we are implementing a number of additional measures designed to cut costs, including reducing the length of our summer associate program from 10 weeks to eight weeks and reducing summer associate salaries by 20 percent. We are also delaying the start date for incoming first-year associates until February 1, 2010, the beginning of our fiscal year. These associates will be compensated with an additional stipend.

Katten Muchin Rosenman LLP has offices in Chicago; New York; Los Angeles; Washington, DC; Charlotte, North Carolina; Palo Alto, California; and Irving, Texas; with an affiliated entity, Katten Muchin Rosenman Cornish LLP, in London, England. The firm has over 650 attorneys practicing in more than 40 areas.

Holland & Knight Delays Start Dates

Erik Even — Wed, 18 Mar 2009 16:15:56 +0000

Holland & Knight informed 3Ls today that 2009 start dates are being delayed.

Recruiting partner Adolfo E. Jimenez:

The start date for our incoming entry-level associates will be January 11, 2010, instead of early or late fall. The firm will pay the incoming class members signing bonuses, study stipends, bar expenses and/or moving expenses as indicated in their offer letters. … We are also committed to an eight-week summer associate program.

In February Holland & Knight cut 70 lawyers and 173 staff positions across its 21 offices.

Holland & Knight is the 36th largest law firm in the world, providing representation in litigation, business, real estate and governmental law.

Skadden Offers “Sidebar” to Attorneys, Incoming Associates

Erik Even — Thu, 12 Mar 2009 21:59:04 +0000

Skadden is offering attorneys the chance to work somewhere else for a year, but then return. The same offer is being made to incoming associates.

In response to the current economic climate and the decreased demand for legal services, we are offering a supplement to our existing Sidebar program. During this period of diminished development opportunities, the program affords associates and counsel in US offices in good-standing the ability to pursue personal or professional interests for a one-year period with the option to return to the Firm at the end of that period. We are also offering a similar program to our class of 2009 incoming associates who may wish to defer their arrival until the fall of 2010…

Attorneys participating in the program will receive one third of their current annual salary in a single lump sum payment. During an attorney’s participation in the program, the Firm will also reimburse outstanding law school student loans (if any) at their current repayment rate to a maximum of $1,000 a month and COBRA costs… Fees for an attorney’s primary bar registration will be reimbursed during the program. Determination of class status upon return will be based upon the nature of the work done during the program.

Skadden, Arps, Slate, Meagher & Flom LLP, founded in 1948, is a prominent law firm based in New York City. With over 2,000 attorneys, it is one of the largest and highest-grossing law firms in the world. Forbes magazine called Skadden “Wall Street’s most powerful law firm.”

Cravath Defers Start Dates

Erik Even — Wed, 11 Mar 2009 16:10:16 +0000

Cravath, Swaine & Moore is deferring start dates for incoming first-years.

New associates will have the choice of beginning work in October, November or January.

The start dates are available on a first-come, first-served basis. If one’s date of choice is “oversubscribed,” the firm will create a new start date set for one week after one’s original start date.

Cravath brought in 161 summer associates in 2008, up from about 90 the previous year.

Cravath, Swaine & Moore LLP is based in New York City, with an additional office in London. The second oldest firm in the US, Cravath was founded in 1819.