I've been following the Dewey & LeBoeuf implosion coverage over on Above the Law. If you haven't heard, here's a brief recap: For the past 5 or 6 months, partners have been abandoning the firm in droves. D&L's bank loans are coming due and the resources aren't available to sustain the firm. D&L sent out a WARN Act notice last Friday, and yesterday the staff was told their last day is next Tuesday, May 15. Today, the axe fell on most (if not all) of the Associates, who were told the same thing.
By all accounts, May 15th is the last paycheck for most D&L employees, and benefits only go through through the end of the month. If the stories being circulated are true, it was apparently financial mismanagement by the senior partnership that led to such a rapid demise of the firm. Nothing sinister, just some bad decisions.
For Associates, Paralegals, Secretaries and Support Staff, it's especially unfair. This predicament certainly wasn't their fault, and shouldn't be held against them in any way, but they will be hurt by this far worse than most of the Partners.
Good luck to all you D&L folks out there. You're going to need it.
1 comment:
What you said, GH. This is a devastating situation for these staffers, and I wish them the best of success in locating new employment.
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