The last significant round of law firm layoffs came on a single day in February 2009 as the Great Recession deepened.
When Benchmark missed the early rounds of Facebook, the firm went another route to getting Facebook cred and connections: Hiring Cohler, an early Facebook executive, as a general partner.
Regardless, it is making the rounds of New York law firms and Web sites like Gawker.com, circulated by associates and paralegals eager to expose what they see as the capricious and demanding behavior of partners.
One source is telling us that Hipster has been making the rounds of Silicon Valley VC firms as well as boardrooms and was talking with Google about a possible talent acquisition (who isn't?) before the talks turned into more of an investment prospect for Google Ventures than an acqui-hiring prospect for the mothership due to Hipster's desire for a better return.
Many expect a round of law-firm layoffs.
The decision to cut out the raises, which have tended to run from about 7percenttoto as high as 15percentt of base salary, follows two rounds of layoffs at the firm.
Mr. Carey, who had already survived three rounds of layoffs in a firm that had dwindled to 60 people from 140 in six months, said he wasn't surprised.
He made the rounds of the prestigious law firms, but there was no market for Italian-Americans.
The story of the runaway e-mail message, which made the rounds of London's law firms and banks before going international to New Zealand, Hong Kong, Australia and the United States, is of course a sobering cautionary tale for these shockingly confessional times.
Two years ago, they were demanding and getting multimillion-dollar pay packages; now, most of them know that they are fortunate to have survived rounds of layoffs as securities firms have eliminated more than 75,000 jobs.
