Above the Law reports that late last year, Schulte Roth let go up to 30 associates.
We’ve been receiving reports of layoffs at Schulte Roth & Zabel since last summer, but were unable to confirm them until now. These days, it can be difficult to differentiate between “performance-based layoffs” and “economically-motivated layoffs.”
Schulte’s spokespeople say all layoffs in 2008 were performance-based. They deny any recent layoffs in their office, saying that any departures in 2009 have been voluntary. Between 20 to 30 associates left in the fall; “approximately” 20 of them were let go for performance-based reasons after their reviews in November. The others were supposedly voluntary departures…
One of those laid-off from Schulte informs us there was no severance package, though associates were given 2-3 months notice at Thanksgiving, asked to leave at the end of January or the end of February…
…they did not get bonuses or pay raises.
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.
Via ATL.