Thursday, October 22, 2009

Reduced Compensation, Layoffs, Deferred Start Dates

More problems for young lawyers: deferred start dates, layoffs, reduction in income, etc. The employment situation for new associates continues to get worse.  Below is an article written by Brian Baxter identifying the problem at one large firm:

"Changes at Squire Sanders: Deferrals, Layoffs, New Management

Deferred associates, possible layoffs, a shuffle in upper management: things are happening at Squire, Sanders & Dempsey.

According to a memo the firm sent to Above the Law, Squire Sanders is indefinitely deferring half of its incoming 2009 associate class and planning to let go of an additional 20 to 25 "timekeepers" firmwide.

Squire Sanders already had deferred incoming associates until January 2010. Should the firm carry through with its plan to reduce head count, it would be the fourth round of cutbacks in the past year.
The firm cut 32 lawyers in May and slashed first-year associate pay by 10 percent. In January, nine support staff employees were let go in the firm's Miami office. That came on the heels of a cull of 30 associates and paralegals in November 2008."

Warmest Regards,

Bob Schaller

Your Bankruptcy Advisor Blog
By: Attorney Robert Schaller (Bob's bio) of the Schaller Law Firm

Bob is a member of the National Bankruptcy College Attorney Network, American Bankruptcy Institute and the National Association of Consumer Bankruptcy Attorneys.

I encourage you to SUBSCRIBE to this blog by completing the box to the right of this post so you will automatically receive future blog postings. Next, you can review past and future blogs at any time by clicking the "archive" link in the column to the right of this posting. Plus, you are invited to submit a question by utilizing the "question" box in the column to the right of this posting.

For information about Chapter 7 bankruptcy Click Here

For information about Chapter 13 bankruptcy Click Here

You are invited to contact Attorney Schaller at 630-655-1233 or visit his website at learn about how the bankruptcy laws can help you.

NOTE: Robert Schaller looks forward to the opportunity to talk with you about your legal issues. But please remember that all information on this blog is for advertising and general informational purposes only. Please read Bob's disclaimer.

I recommend that you review a few other blogs that may be of interest to you. These blogs are identified in the right column and are set forth below: bankruptcy issues blog; bankruptcy and family law issues blog; bankruptcy and employment issues blog; and bankruptcy and student loan issues blog.

No comments:

Post a Comment