It’s been a few weeks since we did a roundup of firms that aren’t implementing austerity measures and with bad news dominating our coverage, we thought it was time to remind everyone out there that not every firm finds themselves struggling during the downturn. Frankly, we don’t get enough of these stories, so if your firm has issued a note of reassurance, let us know by email so we can acknowledge the firms that weren’t living on the knife’s edge of margins. We’ll be updating this piece as we see stuff.
Covington & Burling: The firm sent out a video explaining that there are no current plans to conduct either layoffs or compensation cuts to attorneys or staff and that the firm is well-positioned to weather an economic downturn. The message went further and reminded everyone that the firm didn’t need to perform any cutbacks during the last financial crisis, bolstering its credibility on this point.
Sidley: The firm was early on the work-from-home train and carried that over to resisting austerity measures. No layoffs or cuts on the horizon at this point. Additionally, the firm says it will pay summer associates for the number of weeks they agreed to work at Sidley and continue to offer a summer program even if it has to be online.
Are there other firms who have reassured attorneys that we haven’t heard about yet? Send them in! Let’s have some good news around here.
Earlier: The Biglaw Firms Rolling Out Good News, For Now
Joe Patrice is a senior editor at Above the Law and co-host of Thinking Like A Lawyer. Feel free to email any tips, questions, or comments. Follow him on Twitter if you’re interested in law, politics, and a healthy dose of college sports news. Joe also serves as a Managing Director at RPN Executive Search.
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