Cutting at Gunderson Dettmer and Kirkland & Ellis
Last week, the world’s largest legal galley by turnover Kirkland & Ellis (2,700 lawyers, $6B turnover last year) announced the cutting of rowers in the States.
But let’s not panic yet, because it is not known how many they will dismiss. Judging by the fact that there is silence in legal groups and comments under the news in pro-war publications (for example, here are comments in Financial Times), then very few people are fired. At the end of last year, they fired 25 bad performers. This time, by the way, they again say that this is not a layoff but a planned reduction of non-performers (it’s called stealth layoffs).
A smaller California — Gunderson Dettmer — was affected much more. Last year they boasted that in a year, they increased by a third due to the boom in IT to 400+ rowers, about 100 of them are partners.
The guys work in Silicon Valley, so it looks like the synergy of the tech layoffs and the Silicon Valley Bank bankruptcy just caught up to them. But even here, the numbers are not completely critical. Bloomberg reports that they are laying off 10% of people, including the freshers they onboarded this year.
✍️ Dima Gadomsky
