Biglaw Firm Pushing Out Senior Associates
We're told the associates have six months to find new jobs.
What exactly is a stealth layoff? Due to their, well, stealthy nature they’re a little hard to define. But basically it’s when a firm wants to cut headcount but doesn’t want blowback from announcing actual layoffs. So, they’ll give the associates X number of months to find a new job and the firm may even couch the reductions in performance review terms, making those let go doubt their lawyering skills. But when a Biglaw firm tells 85 percent of a class of senior litigation associates they have to go, the problem is a lot more likely to be with the firm than the associates.
That’s certainly how tipsters at Cahill Gordon are reacting to reports that the overwhelming majority of senior litigation associates in a particular class (we’re not publishing the exact year to protect their anonymity) are being asked to leave the firm, before they’ve even had the chance to go up for partnership. Multiple sources report the associates were told they weren’t partner or counsel material, given only a portion of their bonus and told they had six months to get out of Dodge. And even though pushing out these associates is being framed as connected to their inability to make the leap to the next level, sources say most of them weren’t even able to hear any reviews of their work.
The reactions from the associates we’ve heard from have been unanimous in their shock/anger over this personnel decision and are riffs on the theme that the firm seems more interested in saving money than holding attorneys to an arbitrary standard of excellence.
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The associate ranks at Cahill are fuming… Cahill should not receive airtime on Above the Law for above-market bonuses when they cut ranks… to get there.
We reached out to the firm to comment on the headcount reductions, but have not heard back.
Best of luck to those that are being pushed out of the firm, hopefully your next job is less than six months away.
If you have news of layoffs — stealth or otherwise — at other firms please reach out. You can email it to us (subject line: “[Firm Name] Layoffs”) or text us at (646-820-8477).
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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