What's going on at S&C?

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cavalier1138

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Re: What's going on at S&C?

Post by cavalier1138 » Sat Jul 25, 2020 2:35 pm

Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
As someone already pointed out, many (most?) firms don't give offers until after the summer program ends, so it's disingenuous to list firms that haven't guaranteed offers in advance as not having 100% offer rates.

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Re: What's going on at S&C?

Post by Anonymous User » Sat Jul 25, 2020 2:41 pm

Covington has stated that they intend to make 100% offers; they are waiting til after the program ends to make offers.

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Re: What's going on at S&C?

Post by Ultramar vistas » Sat Jul 25, 2020 3:17 pm

Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
Always tempting to dismiss staff layoffs as no big deal, efficiency etc etc, but the sad reality is that outsourcing the positions listed will lead to a lower quality experience for associates, partners and clients, all for the purpose of saving a few bucks. It’s the kind of move that makes sense to firms who have their backs against the wall a bit, but those with deep pockets understand how critical a full time knowledge manager is for continuity of institutional knowledge, keeping form documents at a high level and up to date, and cross pollinating ideas from practice groups that otherwise might stay internal. It’s a “small” role that actually plays a huge part in keeping the firm at the cutting edge even when key partners depart and take their marker wisdom with them.

Similarly with tech, you can outsource a lot, but nothing compares to working for a firm with a 24 hour in house service bending over backwards to help you get something fixed while you’re at your beach house.

It’s sad that S&C, who I honestly thought would be the kind of white shoe to actually get the importance of keeping these people around, but this is probably the end of the road for many firms who’ve put a platinum plated quality of experience above value for money for the past 100 years.

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Re: What's going on at S&C?

Post by Anonymous User » Sat Jul 25, 2020 7:17 pm

Ultramar vistas wrote:
Sat Jul 25, 2020 3:17 pm
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
Always tempting to dismiss staff layoffs as no big deal, efficiency etc etc, but the sad reality is that outsourcing the positions listed will lead to a lower quality experience for associates, partners and clients, all for the purpose of saving a few bucks. It’s the kind of move that makes sense to firms who have their backs against the wall a bit, but those with deep pockets understand how critical a full time knowledge manager is for continuity of institutional knowledge, keeping form documents at a high level and up to date, and cross pollinating ideas from practice groups that otherwise might stay internal. It’s a “small” role that actually plays a huge part in keeping the firm at the cutting edge even when key partners depart and take their marker wisdom with them.

Similarly with tech, you can outsource a lot, but nothing compares to working for a firm with a 24 hour in house service bending over backwards to help you get something fixed while you’re at your beach house.

It’s sad that S&C, who I honestly thought would be the kind of white shoe to actually get the importance of keeping these people around, but this is probably the end of the road for many firms who’ve put a platinum plated quality of experience above value for money for the past 100 years.
I'm very sorry for the people that got laid off, and I'm sure some of them are a big loss for the firm, but (1) what you describe is not what the person who got laid off in knowledge management was responsible for, and (2) S&C is not good at staff hiring/management, so there are a lot of unnecessary staff who basically just move paper around and talk on the phone (management) or who watch tv on their phones all day (secretaries), but not enough people to do things that are actually useful (or make sure the people assigned to do those things are actually doing them). Also, as the summer associate speculated, at least some of the layoffs were people that do jobs that are unlikely to be possible in the foreseeable future, like managing the 47 lunch events S&C seems to have per week.

Laying off people in IT has been rumored for years, so while I wouldn't be surprised if it happened, I don't know that it's attributable to the current situation.

I don't mean to suggest the layoffs aren't indicative of serious financial problems - it's certainly possible that they are - I just mean that it's equally possible that they're taking advantage of an excuse to cut down.

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Re: What's going on at S&C?

Post by 12YrsAnAssociate » Sat Jul 25, 2020 8:18 pm

The last 2 posts remind me of when I was a mid-level and my secretary was working for 16 lawyers (the firm was typically 8:1, but the main partner in our 8 freaked out and fired our secretary without a backup plan). At my review they gave me shit for drafting a document that was admittedly fairly secretarial, and not having a secretary do it, because it didn't make financial sense for me to spend the hour or whatever drafting the document. That, of course, wasn't a realistic option because "my" secretary would pull her fucking hair out if I even walked by her desk because she was working for 15 other people. I bit my fucking tongue. Rant over. Sorry to derail.

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Re: What's going on at S&C?

Post by Anonymous User » Sat Jul 25, 2020 9:32 pm

Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
STB has said "We anticipate providing full-time offers in the normal course, just as we have done historically, upon the successful completion of our program."

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Re: What's going on at S&C?

Post by Anonymous User » Sat Jul 25, 2020 10:37 pm

Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
Just about all of those firms, and many others ranked lower, guaranteed offers before summer programs started. Reddit did a great job of tracking this in the spring.

You must be looking at the “end of summer” roundup. That chart does not reflect the universally guaranteed offers because many firms haven’t ended their summer programs yet.

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Re: What's going on at S&C?

Post by enibs » Sat Jul 25, 2020 11:19 pm

Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
Whether the staff were expendable or not, laying them off in the middle of the Covid pandemic does seem a little heartless.

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Re: What's going on at S&C?

Post by Spectator » Sun Jul 26, 2020 12:04 pm

12YrsAnAssociate wrote:
Sat Jul 25, 2020 8:18 pm
The last 2 posts remind me of when I was a mid-level and my secretary was working for 16 lawyers (the firm was typically 8:1, but the main partner in our 8 freaked out and fired our secretary without a backup plan). At my review they gave me shit for drafting a document that was admittedly fairly secretarial, and not having a secretary do it, because it didn't make financial sense for me to spend the hour or whatever drafting the document. That, of course, wasn't a realistic option because "my" secretary would pull her fucking hair out if I even walked by her desk because she was working for 15 other people. I bit my fucking tongue. Rant over. Sorry to derail.
If it's any consolation, at least you know you're good, that your moral compass is in the right place.

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parkslope

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Re: What's going on at S&C?

Post by parkslope » Sun Jul 26, 2020 4:03 pm

enibs wrote:
Sat Jul 25, 2020 11:19 pm
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
Whether the staff were expendable or not, laying them off in the middle of the Covid pandemic does seem a little heartless.
Well, and the other thing is, say that offices reopen a year from now, in July 2021. All of the people that S&C laid off will be needed again, and there are a lot of costs associated with hiring and training new people. As I understand it, most other top firms haven't gone the S&C route of just laying a bunch of people off and then hoping to re-hire other people for the same roles a year from now. So it's not quite the obvious solution that the above person makes it seem.

That's separate from the general trend of having a higher lawyer:assistant ratio, which is mostly unrelated to Covid.

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Re: What's going on at S&C?

Post by malibustacy » Mon Jul 27, 2020 3:55 pm

Kirkland to V5 confirmed

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Re: What's going on at S&C?

Post by Anonymous User » Mon Jul 27, 2020 11:35 pm

Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
Latham offered all of its summer associates this year, its program ended last week.

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Re: What's going on at S&C?

Post by Anonymous User » Tue Jul 28, 2020 12:51 pm

Anonymous User wrote:
Mon Jul 27, 2020 11:35 pm
Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
Latham offered all of its summer associates this year, its program ended last week.
Jones Day informally gave out offers at the end of day last week, which was the last week for most of its summers. No idea if every summer for an offer.

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Re: What's going on at S&C?

Post by Anonymous User » Tue Jul 28, 2020 7:24 pm

Anonymous User wrote:
Tue Jul 28, 2020 12:51 pm
Anonymous User wrote:
Mon Jul 27, 2020 11:35 pm
Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
Latham offered all of its summer associates this year, its program ended last week.
Jones Day informally gave out offers at the end of day last week, which was the last week for most of its summers. No idea if every summer for an offer.
They offered every summer in NYC with a large summer class.

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Re: What's going on at S&C?

Post by Anonymous User » Sun Aug 02, 2020 10:11 pm

any more update on this?

lifeasa2l

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Re: What's going on at S&C?

Post by lifeasa2l » Tue Aug 04, 2020 5:18 pm

This post is a troll. There is no indication whatsoever that they are in a “considerable financial distress” because of their building. Of course they might be struggling due to COVID-19 but that goes for everyone.
Last edited by cavalier1138 on Wed Aug 05, 2020 5:42 am, edited 1 time in total.
Reason: Outed for anon abuse.

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Re: What's going on at S&C?

Post by lifeasa2l » Tue Aug 04, 2020 5:23 pm

soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)

So who mentioned about their building? Was it just you guessing?
Last edited by cavalier1138 on Wed Aug 05, 2020 5:42 am, edited 1 time in total.
Reason: Outed for anon abuse.

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Re: What's going on at S&C?

Post by SDFs2 » Tue Aug 04, 2020 6:42 pm

Tangential, but what's the subreddit in which this stuff is discussed? Haven't come across much 're biglaw on reddit so far, so would be nice to find out.
Anonymous User wrote:
Sat Jul 25, 2020 10:37 pm
Anonymous User wrote:
Sat Jul 25, 2020 11:41 am
soft blue wrote:
Sat Jul 25, 2020 11:18 am
Anonymous User wrote:
Sat Jul 25, 2020 9:54 am
I'm also an S&C summer. In my unprofessional opinion, the layoffs probably stem more from the fact that most of those positions aren't really needed right now and they can trim fat in an obvious place. The article also implies there may be some more layoffs from tech outsourcing in the future. I don't know where OP's "voices" came from, so any help there would be useful. There's a big difference between an internal voice at S&C and another law student.

I think a lot of people try and drum up tension on this site, either to satisfy their own anxieties or to carry out their schadenfreude fantasies, neither of which are productive. Given that they gave offers (which they didn't have to do, and not every comparable firm is doing), I don't see any rational reason to jump ship. If I'm wrong, we'll know in November/December.
My noises have come from one-step-removed connections to S&C: a friend's S/O is a lit mid there and is suddenly very interested in leaving (and cited "firm health" as the reason why -- but has been unhappy for other reasons and I don't know how much I buy that), a buddy who is a junior at S&C reached out to me to ask how open my firm was to laterals, etc. I don't have any real intel, etc, but it's not just thirdhand guessing.

What comparable (v20?) firm didn't give out offers to everyone? My sense was that everyone at S&C's level or even slightly below it was giving out return offers. (I know DPW & PW did, believe STB / Skadden / CSM as well.)
Latham, Simpson, Gibson Dunn, Sidley, Quinn, Covington, Jones Day, Debevoise are all V20 firms that according to Reddit haven't guaranteed offers.
Just about all of those firms, and many others ranked lower, guaranteed offers before summer programs started. Reddit did a great job of tracking this in the spring.

You must be looking at the “end of summer” roundup. That chart does not reflect the universally guaranteed offers because many firms haven’t ended their summer programs yet.

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Re: What's going on at S&C?

Post by soft blue » Tue Aug 04, 2020 7:32 pm

This post isn't a troll, it's an object lesson in why you don't do shit like lowball your summer associate class and cancel the summer associate program (when your "peers" did no such thing!). It gets people asking questions and curious. It's also why you don't make expensive cyclical bets like, say, buying your building as a law firm.

Multiple of those S&C insiders discussed the building, but I'm not naming names.

(FWIW I don't have any ill will towards S&C and like several people there; I certainly hope they don't get fucked over. You, however, seem pretty aggro about my attack on S&C's ~honor!~)

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Re: What's going on at S&C?

Post by enibs » Tue Aug 04, 2020 8:04 pm

Anonymous User wrote:
Tue Aug 04, 2020 5:18 pm
This post is a troll. There is no indication whatsoever that they are in a “considerable financial distress” because of their building. Of course they might be struggling due to COVID-19 but that goes for everyone.
Anonymous troll accusation. Very nice.

Fwiw, I do not believe that S&C is in “considerable financial distress.” Which makes their decision to lay off staff in the middle of all this all the more heartless. I could understand better if they were in considerable financial distress.

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Re: What's going on at S&C?

Post by Anonymous User » Tue Aug 04, 2020 9:45 pm

soft blue wrote:
Tue Aug 04, 2020 7:32 pm
This post isn't a troll, it's an object lesson in why you don't do shit like lowball your summer associate class and cancel the summer associate program (when your "peers" did no such thing!). It gets people asking questions and curious. It's also why you don't make expensive cyclical bets like, say, buying your building as a law firm.

Multiple of those S&C insiders discussed the building, but I'm not naming names.

(FWIW I don't have any ill will towards S&C and like several people there; I certainly hope they don't get fucked over. You, however, seem pretty aggro about my attack on S&C's ~honor!~)
I have no connections to S&C. In fact, I did not accept their offer because of their culture. But posts like this makes me “pretty aggro.” No actual basis that can support what you are saying other than a couple of insiders who you claim to know. I am willing to bet those insiders probably don’t know what is actually going on unless they are partners. All I am saying is your post does not accomplish anything and neither do many posts in this forum asking about a firm’s health during a pandemic when every other lfirm is suffering.

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sms18

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Re: What's going on at S&C?

Post by sms18 » Wed Aug 05, 2020 2:01 pm

Anonymous User wrote:
Tue Aug 04, 2020 9:45 pm
soft blue wrote:
Tue Aug 04, 2020 7:32 pm
This post isn't a troll, it's an object lesson in why you don't do shit like lowball your summer associate class and cancel the summer associate program (when your "peers" did no such thing!). It gets people asking questions and curious. It's also why you don't make expensive cyclical bets like, say, buying your building as a law firm.

Multiple of those S&C insiders discussed the building, but I'm not naming names.

(FWIW I don't have any ill will towards S&C and like several people there; I certainly hope they don't get fucked over. You, however, seem pretty aggro about my attack on S&C's ~honor!~)
I have no connections to S&C. In fact, I did not accept their offer because of their culture. But posts like this makes me “pretty aggro.” No actual basis that can support what you are saying other than a couple of insiders who you claim to know. I am willing to bet those insiders probably don’t know what is actually going on unless they are partners. All I am saying is your post does not accomplish anything and neither do many posts in this forum asking about a firm’s health during a pandemic when every other lfirm is suffering.
Hey lifeasa2l - OP didn't make any claims that SC was actually suffering financially. This post was meant as a question based on some unusual steps that were taken by SC recently, relative to their peers (hence the title, "What's going on at S&C?"). You appear to be a law student so maybe that's why you're a bit spooked about the legal market, but there is nothing wrong with asking about a particular firm's health on a legal employment forum.

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Re: What's going on at S&C?

Post by soft blue » Wed Aug 05, 2020 2:48 pm

Anonymous User wrote:
Tue Aug 04, 2020 9:45 pm
I have no connections to S&C. In fact, I did not accept their offer because of their culture. But posts like this makes me “pretty aggro.” No actual basis that can support what you are saying other than a couple of insiders who you claim to know. I am willing to bet those insiders probably don’t know what is actually going on unless they are partners. All I am saying is your post does not accomplish anything and neither do many posts in this forum asking about a firm’s health during a pandemic when every other lfirm is suffering.
Every other firm isn't suffering, though. Many firms in the V10, especially those with strong countercyclical practices (KE, PW, DPW, e.g.) are doing well.

And yes, I will be the first to tell you I don't know anything, which is why I posted a thread asking what was up at S&C! It's why I appreciated the people who knew about NYC real estate talking about the $/sqft in their building and how S&C's mortgage probably works or the person who pulled mergermarket and gave some color on how S&C seems to be doing.

Speaking of culture problems, though, look at who S&C offers! People like this guy/girl. Yikes.

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Re: What's going on at S&C?

Post by snehpets » Wed Aug 05, 2020 3:40 pm

Last edited by Anonymous User on Wed Aug 05, 2020 4:46 pm, edited 2 times in total.

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Sackboy

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Re: What's going on at S&C?

Post by Sackboy » Wed Aug 05, 2020 4:13 pm

Anonymous User wrote:
Wed Aug 05, 2020 3:40 pm
Re: Kirkland: https://www.thelayoff.com/t/14p5iQpY
(1) Don't abuse anon.

(2) As I've said elsewhere, nothing on that site indicates anything other than business as usual at Kirkland. Kirkland is always losing "partners" to other firms, because it has an army of non-equity partners that are searching for equity or even a better non-equity partnership gig elsewhere. As for the league table posts, firms are constantly sliding up and down league tables. Having any strong opinion about a direction of a firm based on a quarterly or even half-year league table is nothing short of reactionary. I'm sure that site is useful to catch some stealth layoffs, but it's yet to really identify anything abnormal at Kirkland. The particularly bad thing about a site dedicated to posting exclusively layoffs and laterals AWAY from a firm is that it's going to look like EVERY firm is trending towards stealth layoffs or financial instability. I am not privy to Kirkland finances and do not work there, but I would be very surprised if they aren't doing very well financially despite the pandemic.

Seriously? What are you waiting for?

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