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Praying for our fallen brethren and sistren

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they gonna need it

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I shouldn't be surprised, but part of me is. Increasingly I thought they might manage to navigate the tech downturn without significant layoffs. My thought process was that if they felt the need to do this, they likely would've done it when everyone else was months ago, to minimize the reputation hit. Will be interesting to see if this is a one and done, or if they'll be like the others and do a few culling rounds.

No longer any clear winner in the "which ecvc shop has handled the current market least worst" imo.

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It's in a lower weight class than the big ECVC heavyweights, but MoFo hasn't had layoffs.

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Wilson has been doing this, just by counseling people out for “performance” with 4-6 weeks severance.

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Whoa! That’s terrible. Jesus.

Yeah I’ve heard of Wilson “performance based” layoffs for a while now - it’s clear they’re in a fairly similar boat to their peers but they’re trying to save face. Gunderson, Goodwin, Fenwick and Cooley have all done RIF type layoffs + 1st year class deferrals as well in certain cases (Cooley even offered 100k to incoming 1st years to defer lol)

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I agree with the above. It is easier to find a job if one is sleathed rather than let go immediately.

Seems unlikely the venture space heats up this year with this move. Tech M&A should be fine, but I think there won't be too many dollars put to work, whether it's early stage or growth equity, unless it's AI-related

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IPOs should help. Successful IPOs should help pricing at all levels. Nobody wants a down round, but successful IPOs will presumably reset prices a bit quicker. And exits help filter thru the rest of the industry. And there don't seem to be many IPOs in the AI space, so when those are ready for exits that should be when things really heat up

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As someone who’s seen the last 08 layoffs I have to say that layoffs in law firms are not true layoffs - it is all performance based no matter how they frame it. Unless you are a cost center (staff, stub first-year, back office etc), if you are let go, your performance is an issue.

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A8 - sorry but I'm sticking by calling that opinion dumb (to be clear, I'm not calling you dumb because I don't know you, just this particular opinion). The legal industry stigmatizes laid off associates more than most other industries using this toxic logic. If an associate was doing well at their firm when work was coming in, they're not suddenly poor performers because their firm lost its ability to bring work in.

If I'm getting defensive it's because I was laid off alongside most of my friends at my last firm less than a year before we started - I was killing it at my very demanding V10 before that, and I'm killing it now at a new firm. People who feel the same way as you do made our job hunts harder - some firms explicitly refused to look at our applications because we were laid off, even though we would have been perfect fits given our prior practice experience.

Also, why do "political reasons" (which exist in every workplace in America) uniquely count as a performance metric at law firms?

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I feel like ecvc is picking back up too :/

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I think other areas like general IP/tech trans/cap markets were more heavily impacted

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What are VC funds doing right now??

Related Posts

When you hear that staff 1s we're just laid off... 😳

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Is the layoff spree ended in PS? No new scapegoat opening up in last two days. Anyone affected in recent couple of days? Please speak up to make the public aware.

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EY fish - when you are laid off, is it immediate the day you're told or do you get a little warning?

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Hello all,

I have got an offer from vmware but I have heard that vmware layoff employees a lot. Can anyone please put some light on the layoff situation in vmware. I am really confused

Thanks

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I was laid off this month from a US-based company where I've been a reporter for the past 3 years or so... I live in Europe. I wonder if I'm likely to have luck with other remote-friendly US companies. Or are we already past that?

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Hi,

Is this a good time to join HP? As they have recently announced 6000 layoffs in 2 years.

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Looking for respectful ways to manage helping people in need of a job or seeking mentorship. I get 3-4 requests a week from mutual contacts asking if I can connect with a former colleague (always broad). Typically the ask is a 30-45 min call. I’ve been laid off, I know how hard a time it is, but equally am working long hours, parenting and want to reserve time for those I know. How do others manage these extra calls into their weeks?

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Do you "work" other than transition or KT after you are told you're being laid off? Just curious what level of work I should provide til my last day.

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Anyone expecting layoffs due to COVID-19? There’s an indefinite hiring freeze and most promotions and have been paused. 👀

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After 6 years of temporary contracts and unstable situations, I find my dream job in my dream company. All of a sudden the world goes upside down and I get laid off. I start sending hundreds of applications, with only 2 recruiters getting back to me to say I don’t have experience for the job (this is how it works in Italy). Add a terrible health situation in my family and it seems there’s no light at the end of the tunnel. Ugh. 😞

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Anyone else tired of having to work so hard to get where you are, only to realize you will be the first one laid off because you aren’t in the “sorority.” Watching it happen is filling me with anxiety

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Gonna join PwC M&A tax. What would be the market like if there’s another financial crisis (hopefully not). Are we the people who will be laid off first? Or we will be pulled to do tax compliance? Thanks.

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Has there been any layoffs in paypal India. Does anyone have an idea about this?
Sae a few news articles online and it's worrying me.

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Which consulting firms are hiring for experienced Associate position? Have a friend who got laid off and looking for another job.

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Meta/Facebook lays off 11k employees

Facebook (Meta)

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Is it just me or do 90% of the jobs being laid off by big tech sound made up? Many job descriptions with multiple bullet points that all kinda revolve around the same idea. One of my buddies works for a big IT company and literally just sits on meetings all day. No one really contributing to anything other than agreeing to whatever the speaker is saying. Are these kind of jobs finally being exposed? Six figure employees getting paid to sit and bounce ideas off each other?

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Is it any surprise we’re seeing mass layoff in tech? Years of rich friends hiring rich friends with no work ethic has lead us here. I know way too many tech people who work maybe an hour a day followed by errands and traveling. A lot of getting in these places is who you know, apparently that doesn’t work out like it used to. The amount of people who worked for Meta, Apple, Amazon, etc for a few months / maybe a year is astounding. it’s around that time frame a boss can tell if you’re worth it

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Hi Everyone

I see recently due to market demand there are raining jobs even for less than 10 yoe getting above 25 lpa is it safe for the job security in terms of long term serving the company ,am afraid of getting laid off in future whats your thought or advuce on this?

More Posts

I had one of those VERY nonproductive days today. I think I accomplished maybe an hour of billable work, even though I had a bunch of stuff to do. I just came off a 300 hour month, and unexpectedly got a continuance on a deadline on Wednesday, and it’s like all of my motivation leeched out of me at once.

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Anyone working as a 2 years + lawyer for Fragomen in Canada can share their salaries and working advantages? (holidays, billable hours etc). Got an interview coming up and want to make sure not to under-sale my profile!

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I’m moving from big law to in-house. Any recommendations on feeds, resources, etc that I should subscribe to? I’d love to be part of a group of other attorneys that are new to in-house. Any suggestions?

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Hi! Have any here gone the natural cycle IVF route? What was your experience like? Did you have success in growing your family this way? Would you recommend it to others?

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How often do you A/B test and how do you conduct it? 

How often do you A/B test to see whether a button should be X or Y color? 

How often do you A/B test to see whether a button should be top left or top right corner? 

Do you wish your company did more of these tests? 

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It's super frustrating to be "time poor".

That's seemingly just the nature of working in Biglaw.

But every day you have the option to buy back your time.

How do you buy back time?

It's simple—by saving and investing.

And you don't need to be uber wealthy to regain control of your time.

Consider this…

likesmart

I have 6 YOE and experience in Java, Spring Boot. What is the average salary for my YOE and tech stack in mastercard India?

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CEO bonus (750 USD) standard for all employees in JPMC every year.

Just heard in news
BNY going to provide some BK share 1 time gift i.e 10 share.
(10*45 USD) 450 USD

JPMC rocks in bonus compare to BNY.

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What's your date of Jalsa??

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Fishbowlers. I got a bad performance review. I need to knock my next one out of the park. Open to any suggestions. S1 in month 6 of starting. I need to get quicker and be able to be a ‘lead senior’. How can I make a manager and directors life easier?

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Can anyone advise on new Sr. Consultant, Deal advisory, valuations salary in downtown Toronto office?

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Hi All,

What would be the inhand salary for 6 LPA in Accenture?

Dm for LTI referals

How are hours in PE ops? Seems investment side is 50-60 then 80+ on live deals

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Hi Guys, Need to unlock DM's. Appreciate your help in liking the post!

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Let's talk money 💰

Why are there glass ceilings on salaries in NL?

Considering that cost of living has gone up significantly here, doesn't the market need some adjustment?

Is salary just a function of years of seniority?

I do understand the case of better WLB and social benefits than the US. Hence not a direct comparison.

Anyone who understands the market willing to share their take?

Thanks!

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1 yoe as a business intelligence developer and just under 1 yoe as a Junior data engineer for a startup. My current company is in talks with me to hire me as a data engineer right after I graduate with my bachelors degree. From what I’ve seen online (averaging 5 different sites, I am including Glassdoor but only the number they have listed as the base) I’m currently expecting about 85k base. Does this seem too high? Just looking for some opinions before I go in for my interview.

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First year here. Do associates get fired for not meeting the billable requirements?

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Please like 11 to open dms.

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How much can I expect in Infosys ,If I have 8.5 lpa 2 yoe in Java , spring boot & microservices in TCS

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Additional Posts in Big Law

I don’t drink any alcohol. How does this impact camaraderie within the firm and ultimately with clients?

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Which Big Law firms in San Francisco/Bay Area have good L&E groups? Good as in legitimate group and not some group that claims to do the work but really just writes blog posts and answers some advice and counsel questions. Amongst those, any intel on culture, WLB, etc.?

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Who’s still on the old DPW scale? 🥲

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I’d rather quit than revise this agreement.

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How many interviews is too many? I’ve done 5 one on ones with different people in the practice group. They want me to talk to a few more, but I’m frustrated. It’s so hard to find time to schedule these things and the associates don’t seem to understand I can’t just take them in the middle of the work day at work. Recruiter thinks it’s a good sign. FWIW they haven’t communicated to me position level they’d expect.

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What sort of work is considered corporate finance? This was referenced in a energy practice related interview and am not sure what sort of work that would entail.

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Does your firm let you take 28-30 December off? Many of my team members won’t be working those days and I decided last minute that I’d like to travel somewhere between Christmas and the New Year.

likehelpful

Did the NYSBA forget about re-takers? Is this a grave travesty and denial of Art 15 rights to those who are not being allowed to sit for the exam? What about their financial distress and their ability to retain and seek employment?

Post Photo
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Mid 2020, I turned down an opportunity to jump ship from my small law firm to a big law firm. At the time I had 4 years of practice under my belt with managerial experience. I thought the offer was reasonable, come in at a 2nd year level, but with the uncertainty of the times I played it safe. Now I regret it. What avenues do I have, if any, to jump into big law from a small firm?

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What is the main reason for staying at/lateraling to biglaw?

likehelpful

Has anyone ever mass applied to jobs with the sole requirement being minimum compensation of $500k

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I’m have a new theory about why juniors always feel like idiots and wanted to see if anyone else thinks this makes sense. I’m a third year, and am the most junior person all of my teams (generally me, a senior or two, and a partner or two), and I always feel like I’m messing something up. Is this just because I never get to work with other juniors and don’t see the mistakes they make, and that it’s relatively normal? And FWIW I went to HYS and I’ve had a clerkship so it’s not like I’m not smart

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What is the next step to take as a 5th year to add value to sr associates, partners, and client? How do I make my skills jumó and differentiate from the pack?

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Interviewing to crossover from plaintiff to defense work, wondering what a competitive salary offer would be from a firm in the V20-30 range, 5th year, antitrust practice. NY/DC scale. Thanks in advance

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Working on some law firm applications tonight and it sucks that I know that I am so capable and have a strong work ethic but firms can’t see beyond grades or the fact that I didn’t go to a t14 law school or prestigious undergrad. I’ve worked twice as hard and feel like I’ve barely even gotten half as much. It’s discouraging sometimes especially because I worked so hard with pretty much no guidance (first gen, poc, low-income) to get into college and do well and then get into a t30 law school

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How viable/easy is it to move from patent prosecution? I’m assuming patent lit is an obvious option, but what about tech trans? Other general practice areas? Bird law?

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Anyone apply to clerkships after working at your firm for a while? Any advice? Currently a second year putting out applications

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What responsibilities should a litigation associate have by their second year?

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Now that the craziness of 2021 is firmly in the mirror, what is your class year and when do you normally stop working at night, on average? For me 6 to 7 is the average. Have to wake up at 5 or 6 a.m. one or two days a week to make that happen though and it may not last through Q4..

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Anyone have experience working with a Robert Half legal in finding a new position? Thoughts/comments?

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