Maybe Big Law firms really wanted their associates to enjoy Thanksgiving, but not Christmas! Why would we say that? Because since we have returned from Thanksgiving, there has been a rash of layoffs.
Earlier today, we received a phone call from an associate at Proskauer Rose to report that associates were being laid off at that moment. Ugh! Proskauer laid off a reported 35 associates, across a number of practices. Proskauer also gave pink slips to some of their support staff. No word on the severance offered to either group.
We’ve received unconfirmed reports that Dewey LeBoeuf has also let some associates go from their structured finance practice. (Honestly, any associate still in a structured finance practice should absolutely expect the hatchet soon. It’s a miracle that you still have a Big law position!)
Reed Smith shared their headcount reduction with the world yesterday. Reed Smith told both associates and support staff that their services were no longer necessary.
Hey, I guess there is no need to attend the holiday party any longer! But Merry Christmas from the firm just the same.