We are tracking information about how the V100 firms (see Vault Rankings) are handing this financial crisis. Some are freezing salaries and saving jobs, while others are resorting to layoffs, shorter summer programs, and deferred start dates. Some firms are doing all of the above in an effort to remain fiscally responsible in these tough times. We hope this site is useful for you, especially for those who need to make a decision about which offer to accept, whether you are a law student or individual looking to lateral to a new firm. Good luck to everyone, especially those who have experienced or will experience shorter summer programs, rescinded offers, deferred start dates, salary cuts or freezes, and layoffs. To date, 3.4% (0r approximately 3500) of V100 attorneys have been laid off and 75% (or approximately 3800) of the incoming first year associates will have a few extra months to travel the world before starting a BigLaw career (hopefully!).
Please send tips to tips@lawfirmchaos.com. We are especially interested in copies of any letters or emails sent out regarding the information tracked on this website.
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