Dechert layoffs Forum

[Anonymous User]

The European thing is that small differences in billing rates are unlikely to convince a client to pick one firm over another. If you're not one of the best practices in the country on a general level, you want to be the best on a niche level. My observation is that Dechert's niche is the European and Asian markets. In theory, this should hedge their bets right, because if the US is slow, maybe France isn't. In reality, the US economy is more stable than these other markets. The partner hires are probably intended to bring in more European business, which will mean more work in the US. As an associate, you're only privy to info disclosed to you and to their track record. At the end of the day, you're betting your livelihood on people you never met making good business decisions. This is true anywhere, but investors who are right once are likelier to be right the second time than an investor who was wrong the first time.

[Desert Fox]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

Support staff layoffs don't matter. Even profitably firms just want to get rid of their dead weight. I wouldn't be worried about layoffs. Even if your firm is sinking, you'll find a lateral offer. You only have to worry when all firms are laying off.

[Anonymous User]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

Support staff layoffs don't matter. Even profitably firms just want to get rid of their dead weight. I wouldn't be worried about layoffs. Even if your firm is sinking, you'll find a lateral offer. You only have to worry when all firms are laying off.

This is more difficult if you aren't allowed to say why you're leaving and also don't want to lie. Having your 2 months on the site, and saying the firm is slow can be mutually exclusive.

[Anonymous User]

The European thing is that small differences in billing rates are unlikely to convince a client to pick one firm over another. If you're not one of the best practices in the country on a general level, you want to be the best on a niche level. My observation is that Dechert's niche is the European and Asian markets. In theory, this should hedge their bets right, because if the US is slow, maybe France isn't. In reality, the US economy is more stable than these other markets. The partner hires are probably intended to bring in more European business, which will mean more work in the US. As an associate, you're only privy to info disclosed to you and to their track record. At the end of the day, you're betting your livelihood on people you never met making good business decisions. This is true anywhere, but investors who are right once are likelier to be right the second time than an investor who was wrong the first time.

Dechert has a lot of highly ranked practices in the US. It's either the best or second-best firm in Philly, its registered funds practice is one of the best in the nation, its white-collar practice is top notch, its antitrust and life-sciences practices are really great, etc.

[Anonymous User]

The European thing is that small differences in billing rates are unlikely to convince a client to pick one firm over another. If you're not one of the best practices in the country on a general level, you want to be the best on a niche level. My observation is that Dechert's niche is the European and Asian markets. In theory, this should hedge their bets right, because if the US is slow, maybe France isn't. In reality, the US economy is more stable than these other markets. The partner hires are probably intended to bring in more European business, which will mean more work in the US. As an associate, you're only privy to info disclosed to you and to their track record. At the end of the day, you're betting your livelihood on people you never met making good business decisions. This is true anywhere, but investors who are right once are likelier to be right the second time than an investor who was wrong the first time.

Dechert has a lot of highly ranked practices in the US. It's either the best or second-best firm in Philly, its registered funds practice is one of the best in the nation, its white-collar practice is top notch, its antitrust and life-sciences practices are really great, etc.

Right, but these are niche areas, which is what I was saying. There's not a white collar group. There's a litigation group that is supported by a large amount of white collar work. Obviously American litigators are not going to be staffed on cases tried under Chinese law. The point is that the business relies heavily on niche practices. This is not a flaw, and doesn't mean they don't have strong practice areas.

Every group is essentially it's own industry within a firm economy. Some industries are more successful than others. If some industries over-hire year in and year out, it starts looking like a strategy. Unfortunately, it's a strategy that may suggest you to heightened risk of which you are never made aware of. This is also a risk you aren't subjected to everywhere else. Not everyone goes into big law for the money and financial stability. A lot of people choose big law, because it's rewarding to help a big company become bigger, and would do it for free. If you're selfish, you might want a contingency plan. It doesn't mean you'll need or use it. It's just statistically more likely you will need it at some places.

[Anonymous User]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

Support staff layoffs don't matter. Even profitably firms just want to get rid of their dead weight. I wouldn't be worried about layoffs. Even if your firm is sinking, you'll find a lateral offer. You only have to worry when all firms are laying off.

But that's what I meant. What if a lot of firms are dumping people and this is the start of it.

[sener212]

The European thing is that small differences in billing rates are unlikely to convince a client to pick one firm over another. If you're not one of the best practices in the country on a general level, you want to be the best on a niche level. My observation is that Dechert's niche is the European and Asian markets. In theory, this should hedge their bets right, because if the US is slow, maybe France isn't. In reality, the US economy is more stable than these other markets. The partner hires are probably intended to bring in more European business, which will mean more work in the US. As an associate, you're only privy to info disclosed to you and to their track record. At the end of the day, you're betting your livelihood on people you never met making good business decisions. This is true anywhere, but investors who are right once are likelier to be right the second time than an investor who was wrong the first time.

Dechert has a lot of highly ranked practices in the US. It's either the best or second-best firm in Philly, its registered funds practice is one of the best in the nation, its white-collar practice is top notch, its antitrust and life-sciences practices are really great, etc.

Right, but these are niche areas, which is what I was saying. There's not a white collar group. There's a litigation group that is supported by a large amount of white collar work. Obviously American litigators are not going to be staffed on cases tried under Chinese law. The point is that the business relies heavily on niche practices. This is not a flaw, and doesn't mean they don't have strong practice areas.

Every group is essentially it's own industry within a firm economy. Some industries are more successful than others. If some industries over-hire year in and year out, it starts looking like a strategy. Unfortunately, it's a strategy that may suggest you to heightened risk of which you are never made aware of. This is also a risk you aren't subjected to everywhere else. Not everyone goes into big law for the money and financial stability. A lot of people choose big law, because it's rewarding to help a big company become bigger, and would do it for free. If you're selfish, you might want a contingency plan. It doesn't mean you'll need or use it. It's just statistically more likely you will need it at some places.

No offense, but: this is a really dumb, weird post.

[Anonymous User]

There's the internal conflict between wanting to help other people, and the possibility you will be sued for doing so. It's not 2008 when everyone knew. You only get severance if you sign a non-disclosure. It's a great firm and this doesn't change that, plus finances change rapidly at the smaller big law firms. Job stability is nice, but it's only one factor. For some people, having dinner on the table is very important. For others, it's dress code. Can you even enjoy that dinner if you're wearing a tie that restricts your esophagus? At the end of the day, it boils down to your personal values.

It's paranoid to stress about the entire market, and even if you're right, what would you do? With specific firms, it's important to keep in mind it's at will employment and it's not the firm's responsibility to tell you how it's doing or to give you a heads up. You are betting in the stability of the firm you go to. It's your bet, not theirs, but ideally both you and the firm want the firm to be right. However, it's unreasonable to expect them to let you know how things are going or how they're doing. If you bet on the Phillies, does the Phillies manager have to call you to tell you the lineup card because you bet on them? It's unreasonable to expect anything more. This is why it's so important to bet right.

[dabigchina]

I've lost the thread guys. Is Dechert laying off people or not?

[Anonymous User]

I've lost the thread guys. Is Dechert laying off people or not?

I haven't read anything on here that is more than speculation or rambling, and believe me when I say I am very interested in Dechert layoff news.

There does appear to be one person who was given a severance package and who is not happy about it. No evidence of mass layoffs, though.

[Anonymous User]

I've lost the thread guys. Is Dechert laying off people or not?

I haven't read anything on here that is more than speculation or rambling, and believe me when I say I am very interested in Dechert layoff news.

There does appear to be one person who was given a severance package and who is not happy about it. No evidence of mass layoffs, though.

Confirmed. Mid level attrition is higher than usual in some practice groups/offices.

[Anonymous User]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

WSGR, we all know

[Anonymous User]

Nobody said there were mass layoffs. They said there were layoffs for the reasons stated. The fact this is news or speculation is evidence in and of itself that it's not on a mass scale. Without sounding the alarm bells, if there are mass layoffs then they were calculated to take place in bunches over time such that nobody other than the powers that be know there are mass layoffs. This sounds far fetched. It's much likelier there are layoffs spaced out over time to not sound alarm bells. Nobody here is motivated by spite, and that's the point. If one more human being lands on their feet, the heads up is an unequivocally good deed.

[Anonymous User]

Exact wording was "financial difficulties and downsizing". It was large enough for other firms know, but it may be limited to a practice group and/or office. If you aren't slow then you have nothing to worry about. If you are slow and think this may be why, no need to freak out. You have time to figure it out. The post about no layoffs in 4 years would have been gravely inaccurate even before the downturn.

[Anonymous User]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

Support staff layoffs don't matter. Even profitably firms just want to get rid of their dead weight. I wouldn't be worried about layoffs. Even if your firm is sinking, you'll find a lateral offer. You only have to worry when all firms are laying off.

This is more difficult if you aren't allowed to say why you're leaving and also don't want to lie. Having your 2 months on the site, and saying the firm is slow can be mutually exclusive.

this type of logic continue to baffle me, I dont care if your firm is slow, fired you because of massive layoffs, or for any other reason. Reagardless, if you are laid off and have X months on the website you need to convince the new prospective employer that you want to work there and something exists at that firm that is enticing you to leave... instead of blaming it on past employer... otherwise you will find it really really hard to get a job

[Anonymous User]

You may have misunderstood. Although it's easier if they know there were many layoffs, there's no blame game here. It's a business, and you assume the risk a firm will struggle when you accept an offer. However, if someone who would otherwise be hung out to dry has a contingency plan because they have a heads up, it could be life changing.

[Anonymous User]

I've been getting more worried recenty because of the layoffs. There was an ATL article recently about a silicon valley firm (I edited this comment to take out the firm name out of fear lol) not letting some of the summer associates who failed the bar to take it a second time, and instead just letting them go. Then there were layoffs of supporting staff at some other firm. And now this at Deschert. I've also heard that work is slow in some firms for associates. I've had a feeling for the last year or so that there is a wave of huge layoffs coming and a lot of us are clueless about it. I'm hoping it's not true and that all of this isn't a sign of something bigger to come.

WSGR, we all know

Are they having financial issues and doing a lot of layoffs or was it just trimming a bit? And does this translate to what's happening or going to happen generally in the market?

[Anonymous User]

It won't affect other firms. It's the business slowing down combined with the over-hiring. There's generally some overhiring to have first years and laterals duke it out, but business also dried up so you had some people with quasi-revoked offers not know their offers were quasi-revoked. This also happened in 2013 so it's somewhat expected and essentially reckless on the associates' part. You wouldn't hire Casey Anthony as a babysitter, and complain your kid got hurt.

[Anonymous User]

It won't affect other firms. It's the business slowing down combined with the over-hiring. There's generally some overhiring to have first years and laterals duke it out, but business also dried up so you had some people with quasi-revoked offers not know their offers were quasi-revoked. This also happened in 2013 so it's somewhat expected and essentially reckless on the associates' part. You wouldn't hire Casey Anthony as a babysitter, and complain your kid got hurt.

Are you talking about WSGR specifically or is this a practice generally? I've never heard of "quasi-revoked offers." Could you explain it a bit more? Are you saying because of overhiring and slowdown of business, they made offers they intended to revoke or fire the associate the first chance they get? Wouldn't it be a better practice to let the associate know as soon as possible so that she/he can look for other employment as soon as possible? Why keep quiet about it and then spring the termination almost out of the blue?

[Anonymous User]

Every group works differently. There was a dearth of business for some time that led to downsizing. I will let other people chime in. The purpose of this is to issue a warning so that people who will be affected can mitigate their damages. The warning has been issued.

[spyke123]

Some of the anon posts in this thread is weird... and just don't make much sense.

[Anonymous User]

Every group works differently. There was a dearth of business for some time that led to downsizing. I will let other people chime in. The purpose of this is to issue a warning so that people who will be affected can mitigate their damages. The warning has been issued.

Ok but the warning is still very vague. Office(s)? Practice group(s)?

[dabigchina]

Some of the anon posts in this thread is weird... and just don't make much sense.

This thread is the TLS equivalent of one of those cold war numbers stations.

I think a couple of people are saying they have heard of/experienced stealth layoffs, but cannot say so directly because they signed NDAs.

Either that or they are having fun.

[Anonymous User]

F the NDAs I wanna see A SINGLE law firm sue a person for breaching a NDA - it would be daily ATL news and backlash would be ginormous... it would never happen.

BTW I was letgo (not from Dechert) without an NDA and it made no difference to how I acted

[BlendedUnicorn]

It won't affect other firms. It's the business slowing down combined with the over-hiring. There's generally some overhiring to have first years and laterals duke it out, but business also dried up so you had some people with quasi-revoked offers not know their offers were quasi-revoked. This also happened in 2013 so it's somewhat expected and essentially reckless on the associates' part. You wouldn't hire Casey Anthony as a babysitter, and complain your kid got hurt.

Well-played.