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Latham saw PEP rise but revenue fall in "tough" 2009

Latham is managed by a bunch of ruthless people. During the debt boom they hired a lot of people to work in the booming corporate areas and made record revenues and profits as a result. Then, when the recession inevitably comes, they layoff 190 associates publicly, and a lot more stealthily for a total that's probably over 400 This layoff number included a lot of first years who had been at the firm for only four months. In NY, over half the first years were laid off several month in. Latham management knows how damaging a layoff is for a lawyer's career, and for a first year it's practically a death sentence. All this in response to a 5% drop in revenues and to boost profits a mere 5%? Latham management is awful. Law students and future laterals, when the economy recovers and hiring picks up, remember which firms needlessly destroyed associates during this recession.

17-Feb-2010

8:41 pm