JD Journal » delays start dates

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.

White & Case Lays Off 400

Erik Even — Mon, 09 Mar 2009 21:27:39 +0000

White & Case announced today it will lay off 200 associates and 200 staffers.

From the official announcement:

Following a thorough, strategic review of its business, White & Case LLP announced today a number of measures that will allow the Firm to respond to changing demand in the market for legal services.

These actions include an evaluation of its partnership, which will result in a reduction in the number of partners, commensurate with current and anticipated business needs.

The Firm is also implementing a global workforce reduction of about 200 associates and 200 administrative and business support staff. These reductions will vary by region and practice, based upon the needs of the business. In accordance with local labor laws, the Firm will follow a consultative process in some offices. Those affected will be offered a competitive severance package, as well as other support services to assist them through this transition.

In addition, the Firm is deferring the start date of approximately 60% of this year’s incoming associate class in the US until 2010. Incoming associates who are not deferred will join the Firm on November 2, 2009.

White & Case LLP is a leading global law firm with 2,300 lawyers in 38 offices in 25 countries, and a total staff of more than 4,800. It was founded in New York in 1901.

The American Lawyer ranked the firm sixth by revenue in the US in its annual Am Law 100 financial survey for 2007.

O’Melveny & Myers Delays Start Dates

Erik Even — Thu, 05 Mar 2009 18:46:04 +0000

O’Melveny & Myers, which yesterday laid off 90 attorneys and 110 staff positions, is delaying the start date for its new associate class.

The new start date is December 2009. Typically, the firm’s new associates start between September and November.

We will be providing our incoming associates with a bar stipend, as well as bar and moving-related expenses. We have not asked incoming associates to defer their employment for a year and have no plans to do so. As such, we are not paying any related deferral stipend.

O’Melveny & Myers LLP is the 19th largest law firm in the world. It employs 1200 attorneys in 14 offices worldwide.

Hogan & Hartson’s Revenue and Profits Down

Erik Even — Sat, 28 Feb 2009 18:53:53 +0000

Hogan & Hartson’s revenue and profits fell flat in 2008, after a record year in 2007.

The firm’s gross revenue rose 4.8% to $922.5 million, but the firm’s revenue per lawyer fell 2% to $833,000. Hogan’s profits per partner fell 1.69% to $1.17 million.

In 2007, the firm reported gross revenues of $880 million and profits per partner of $1.19 million.

The boom in business in 2007 was driven largely by merger & acquisition work, which fell off dramatically at the end of 2008.

Hogan gained 7% in total lawyer headcount in 2008, up to 1,107.

This month the firm offered voluntary buyouts to 240 staff members.

Hogan has also pushed back the start date for this year’s incoming associate class to November 30th.

Founded in 1904, Hogan & Hartson is the oldest major law firm headquartered in Washington, DC. It is a global firm with more than 1,100 lawyers in 27 offices worldwide, including offices in North America, Latin America, Europe, the Middle East, and Asia.

Via BLT.

Baker & McKenzie Bribes Trainees to Delay Start Dates

Erik Even — Sat, 28 Feb 2009 17:48:32 +0000

Baker & McKenzie has become the latest law firm to ask its incoming trainees to postpone their start date by up to a year.

The firm’s London arm has asked for volunteers from its 2009 and 2010 intakes to defer starting their training contracts by either six or 12 months.

Those willing to defer for 12 months have been offered a financial incentive of £5,000 ($7,160). There is no incentive offered to trainees electing to postpone for six months.

The next intake of 18 trainees starting in March 2009 is unaffected by the move. September’s projected intake is 21.

Bakers, which this year made 20 UK legal stuff redundant, said that it has no plans to force trainees to defer if there are not enough volunteers.

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.

Update: Thompson Hine Cuts Positions, Pay

Erik Even — Mon, 23 Feb 2009 16:44:32 +0000

Cleveland’s Thompson Hine will impose an across-the-board $17,500 base salary reduction on associates and other non-partner lawyers.

Those lawyers will be able to earn back some or all of that sum as a bonus, if they bill at least 1,750 hours this year.

The firm also announced layoffs last week, eliminating the jobs of 12 associates, five paralegals and 29 secretaries. Furthermore, it has pushed back the starting date for its incoming first-year class to January 2010.

Roughly 210 lawyers will be affected by the salary change. Associate salaries vary among Thompson Hine’s eight offices: first-years in the New York office earn $145,000; those in Cleveland bring in $125,000; and Cincinnati first-years make $115,000. The reduction represents a 12% decline for first-years in New York, and a 15% decline in Cincinnati.

Freshfields Delays Start Dates

Erik Even — Wed, 18 Feb 2009 17:49:13 +0000

Freshfields Bruckhaus Deringer is asking some of its trainees to push back their start dates with the firm.

A number of trainees set to join the firm in August 2010 are being asked to defer the start date of their training contract to February 2011.

Freshfields has 64 trainees due to start in August next year and only 32 set to join the following February. The firm said the decision was prompted by a desire to balance the size of the intakes and was not related to economic conditions.

The August 2009 and February 2010 intakes will not be changed.

Lovells and Simmons & Simmons both approached their March 2009 intake to ask for volunteers to start in 2010.

London’s Freshfields Bruckhaus Deringer LLP is an international law firm with offices in Europe, the Middle East, Asia, and the US. In 2006 it was the world’s fourth largest law firm by revenues.