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BigLaw Lay Offs

By Mark H. Astarita, Esq.

So, you break your back, and your wallet. You graduate from law school, pass the bar exam, get a job at BigLaw, for big hours and big bucks. Sure, you are doing the crap work, getting paid less per hour than your construction worker buddies, but hey, you got a career in law and in another 7...err.....8.....uh...9 or 10 years you might be a non-equity partner.Then your fantasy bubble bursts.You are being layed off.............Yup, Cadwalader is laying off 35 associates, nearly 10% of its lawyers are gone, with three month's severance. Nice deal, great show of support for those new associates you recruited.According to the article, more layoffs are coming - at least some of BigLaw, including one of my favorite BigLaws did buyouts and took care of their associates...continue to full post

Full post as published by SECLaw.com on January 11, 2008 (boomark / email).