Layoffs in Vault 51-75

Moving on down the list, we come to the bottom half of the 2009 Vault 100, with the firms ranked 51-75.

Most importantly, the third tier (toilet) is home of the patron saint of this round of law-firm layoffs: Cadwalader Wickersham & Taft (or TTTaft, as the commenters are wont to say – how apt that the firm is now indeed in the third tier).

Analysis after the jump.

As we mentioned above, almost every firm in this ranking had layoffs of one kind or another.

Once again: we know many firms (especially in the higher tiers) have engaged in stealth layoffs, but if you don’t contact us with something we can confirm, we can’t report it. Also, we count “garden leave,” “voluntary” severance, and performance-based (stealth) layoffs as layoffs. Please read the methodology and the various posts on the subject.

There were fewer layoffs in this quartile than in the previous, but a far greater percentage of firms laid people off. Twenty-two of the 25 firms laid off lawyers, all but Greenberg Traurig (V59), Steptoe & Johnson (V70), and Kaye Scholer (V69). Kaye Scholer did lay off staff, though.

This quartile is also home to the last two members of the Overall Top 10 Layoff List: Holland & Knight, with 313 layoffs, is #9 on our ranking (V65); and Morgan Lewis, with 266, is #10 (V53) (although they object to the inclusion of the round of stealth layoffs; the firm’s party line is that only the announced layoff round counts).

Three firms are knocking on the door, though: Reed Smith is one short, with 265 total layoffs; Dechert has 264; and McDermott Will & Emery has 250. We’d hate for them to miss out on their shot at glory.

Seven other firms had more than 100 layoffs (Fish & Richardson, Cadwalader, Sonnenschein Nath, K&L Gates, Pillsbury Winthrop, Cooley Godward, and Wilson Sonsini). We’re actively tracking down layoffs at the midwest office of one of those firms, so if you know anything, contact us. Also, we know Cahill has had further confirmed stealth layoffs, but we don’t have a number for it yet.

The ratio of lawyer-to-staff layoffs in this tier is almost exactly the same as the historical ratio.

All told, V51-75 account for:

2,892 of 13,232 total layoffs (21.86%)
1,134 of 5,190 attorney layoffs (21.85%)
1,758 of 8,042 staff layoffs (21.86%)

Previously:

• V1-25
• V26-50

Up Next: V76-100 and the overall numbers.

Related posts:

1. Rounding Up the Vault 100
2. Layoffs in the Vault 25
3. Layoffs in Vault 26-50
4. Layoffs in Vault 76-100
5. And Then There Was One