Houston’s Vinson & Elkins has notified incoming associates that they must choose a new start date of November 2nd, 2009, or January 4th, 2010.
The firm is asking new associates to talk to practice group leaders and department heads in their areas for input before making a decision.
The firm is offering an incentive for the 2010, date: a $10,000 salary advance that associates will not have to repay.
Sources in the blawgosphere say the firm is pursuing various other cost-cutting measures, including a reduction in staff bonuses, holding off tech upgrades, and making employees pay for their own BlackBerries.
Vinson & Elkins LLP is an international law firm with offices in 13 major cities, including Houston, Dallas, Austin, Beijing, Shanghai, London, Tokyo, New York City, Washington DC, Moscow, Dubai, Abu Dhabi, and Hong Kong. With approximately 700 attorneys, Vinson & Elkins is the largest law firm in Houston and one of the largest in Texas.