Nationwide Layoff Watch: What's Going On At O'Melveny & Myers?
Something weird, that's what. We are not prepared to declare associate layoffs (because we try to be cautious about making such calls). But odd things are afoot at OMM, and the environment is one of Kremlin-esque anxiety and paranoia.
We contacted O'Melveny & Myers last week, to see if they had any comment on rumors of associate layoffs. They never got back to us. So this report does not reflect any information provided by the firm itself.
(Other firms that have been the subject of layoff rumors have been more cooperative, opening their kimonos and persuading us of the falsity of the layoff rumors about them. OMM did not avail itself of this opportunity.)
Although O'Melveny had no official comment, we did hear from people who are at OMM or who know people over there. The (admittedly unhelpful) upshot: nobody seems to know what's going on; the firm is keeping people in the dark.
Read the full report, after the jump.
The rumors started surfacing in comments on this site. Here's one representative comment, which appeared in one of the Cadwalader layoff threads:
OMM had layoffs which was not only hush hush to the outside world but inside the firm as well. NO ONE in the firm has acknowledged that layoffs took place and an inordinate amount of associates didn't get bonuses and/or got bad reviews.Like last time when NY had layoffs, some layoffs were blamed on performance but most negative performance reviews were decidedly trumped up. People who were stuck on doc review all year were castigated for not writing (this was chronicled on here the last time); people who spent a lot of hours on a particular case and did a good job overall were surprised to find some small assignment given major play on and negatively reviewed. Just awful treatment of associates.
Many were given to March 15th to leave. The total in NY is about 15 were told to leave and many other suffered "constructive" discharge: denied bonuses or promotion due to negative reviews that were purposely slanted to result in a bad review (in other words, don't let the door hit you in the butt).
The DC office suffered similar offenses but we can't find out the numbers.
Not only isn't anyone talking to ATL but no one in O'Melveny is telling US what is going on.
We had an ACAC meeting [on January 9] and the partners were told morale was bad. They're probably happy to hear that hoping we'll all leave.
Very poor form.
And here's a second, subsequent comment:
[Dismissals cast as performance-based are] happening at OMM -- bar has gotten higher and you will get axed for performance if you aren't careful (even in lit, which is where my experience lies). I think you need to be established sub-par (6 months plus of poor hours + not so great performance). But be careful all... times they are a changin'.
The foregoing comments were posted anonymously, without confirmation that they actually come from O'Melveny associates. We reached out to our OMM sources. From a tipster in New York:
"We can't confirm anything because the firm has not put anything in writing or on the intranet or in voicemail. There is clearly an effort being made to keep associates in the dark. However, most associates believe that 15 people were given until March to find a job, a few were outright canned right before Christmas, and there was an unusual number of bad job performance reviews with most of the associates thinking that there was a BIG effort to skew performances in order to not give bonuses and promotions. Several associates who received bad reviews compared notes and the reasoning on the reviews was baffling. Many bad reviews simply made no sense but were just an excuse to not give bonuses and to not allow an associate to go forward in their career. Associates are calling it a constructive discharge.""But the environment at OMM is so secretive and paranoid that NO ONE will talk out loud, even at the associates' meeting. [Last week] we had an associates' meeting which was a joke. Someone HAD TO ASK about the slowdown in work and only then were we told that the partners are aware that 'morale is low' and people don't have work. The useless associate/counsel committee was not offering that information if no one had asked. No one asked about layoffs but everyone talked about 'what do you know?' after the meeting. So even our associates' committee is not being forthcoming."
"The environment is really terrible and what was once a good place to work has become negative and no one knows who to trust or what to do. The firm's lack of candor is making everything worse."
"So I think that is what is going on but who ever knows. We have only rumor and innuendo. Sorry I can't tell you more."
From a second New York source:
"We've been trying to piece together a bunch of different rumors, but most of the info has come from ATL. If anything's happening, I think it might be on the litigation side."
From an O'Melveny associate on the West Coast:
"One of my better friends at OMM CA was let go. According to him, it was [cast as] a performance issue. He was a junior associate in litigation. Not sure if this constitutes a lay off, but if others report the same thing happening elsewhere in OMM CA, perhaps it is. Either way, people are very paranoid."
And from an ex-O'Melveny associate:
"[I used to work at OMM] and attempted to confirm this rumor through several friends that still work there. Each of them responded with a "no comment." I found this strange... these are pretty good friends. They must be fearful that their email is being screened (this was never really much of a concern when I worked there), or, they must've been explicitly instructed to keep quiet. Anyway, I think you should definitely seek input on this matter through your site."
If you know anything more specific, please email us. If you don't want to email us, for fear that your email is being monitored, you can also contact us via Facebook message, telephone (land line or mobile), or AOL instant messenger. Our full contact info appears in our Facebook profile. Thanks.
(134) Comments
you heard it here .... wait for it......first
I call BS. Lat is just trying to stir things up. Report real news!
It seems like you're more hurt by the fact that they didn't get back to you, Lat, than you seem interested in the story.
I hope for the sake of the market, though, the OMM isn't so short-sighted.
This is happening everywhere, not just OMM.
UPDATE YOUR RESUME AND ORDER YOUR TRANSCRIPT NOW.
Lat, you missed the fact that Thatcher Proffit quietly followed CWT's lead.
2:31, according to the New York Law Journal last week, TPW didn't need to do layoffs:
"Thacher Proffitt Chairman Paul Tvetenstrand said yesterday that 24 of its associates had accepted buyouts and the firm would not be resorting to layoffs. He noted that all of those associates had since found other work."
where there's smoke . . .
are the Simpson layoff rumors true too?
this is the natural outgrowth of the higher salaries for us associates.
Whew! I had a offer to summer at OMM NY.... glad I dodged this bullet!
Lat - "rumors abound" is not a post. This is C-grade pirate work here. A real NINJA would post real stories.
LAT, YOU ARE JUST FISHING HERE. THERE IS NO STORY BEHIND THIS. MUST BE A SLOW NEWS DAY.
Wow, Lat, this is really great work. Outdone yourself this time. David Lat - Master Sleuth
Its true. I am at OMM and know at least 10 associates who were asked to leave in the last few weeks.
I'm glad this is happening to such an obnoxious group of attorneys.
At my high school, guys working at McDonald's were fired for trumped up reasons all the time. No big deal
O'Melveny is TTT. So glad I didn't accept my offer there.
if it is so 'ttt', why were you considering it?
What happens when someone pours a cop of coffee on David Lat's lap during a flight from Dallas, Texas to Minneapolis, MN?
There's a change of LATitude...
Maybe I'm naive, but what purpose does it serve to cast these lay-offs as performance-based?
They can't think that their own associates don't know the truth. They can't think that other firms won't get wind of the affair when interviewing those who were axed. They can't think that anyone on the outside is going to think the firm is in better shape than it really is.
The world is small enough that nobody is being fooled. So why do it?
What does TTT mean?
Guys, what does TTT stand for?
I've seen recent comments regarding Simpson layoffs. I'm a Simpson attorney and I've heard nothing about Simpson laying anyone off or having plans to do so. Our areas have slowed down, especially since credit is harder to get these days, but they're still fairly robust as our clients tend to still do relatively well in the slow times. Traditionally, Simpson is fairly longsighted with many of their policies, so it would be hard to believe that they would layoff any attorneys. Now, there may be the regular transitions of people not going to make partner, but other than that, nothing amiss has been going on of which I'm aware. Now, I'm not at the NYC office, so things may be different there. But from what I've heard from my colleagues in the NYC office, they also have heard no rumors. Most of us in corporate are fairly busy. Not insane busy like we were in the earlier/midpoint last year, but not twiddling our thumbs either. So it's particularly difficult to believe that there is any truth to the random comments from people on here about us (which I imagine did not come from someone inside the firm).
Is this another hoax? I'd love to see some actual verified information, not just random comments.
It would be foolhardy of OMM to pull a Shearman (among others) circa the dot com bust, and fire a bunch of attorneys for "performance" reasons (i.e. we have no work for them to "perform" and they're on the bottom of the list, so its "performance" based). Shearman has felt the wrath of associates since then. Nothing but bad press in recruiting circles. People see through the BS, so just own up like CWT et al.
Anyone, like me, remember when Shearman was comfortably in the top 10 in Vault prestige? Now? Clinging to 14 (having just barely moved up from 15).
Take heed, OMM.
this is the natural outgrowth of the higher salaries for us associates.
Posted by: Ounce of Logic | January 14, 2008 02:54 PM
__________________________________
No, it's actually the natural outgrowth of a recession, but thanks for playing . . .
firms have been laying off people quietly...kirkland and proskauer come to mind
"Anyone, like me, remember when Shearman was comfortably in the top 10 in Vault prestige? Now? Clinging to 14 (having just barely moved up from 15).
Take heed, OMM."
i hope this author (and the vast majority of you, frankly) realizes how pathetic he or she is.
Should OMM still be considered Big 3 after this?
No layoffs at Paul Hastings or Orrick....
I can hardly stand it, everyone: pleez send me your tipppps!
To 3:23:
Because I didn't initially know that it was so TTT. Silly question. Crappy/non-existent bonuses + mischaracterizing massive layoffs as "performance based" = intentional misrepresentation/fraud, + recent partner defections = clear TTT, if not worse.
I WAS DISMISSED FOR "PERFORMANCE-BASED REASONS"
White Girls with Asian Guys
ahhh, a partner troll chimes in. Welcome! OMM, perhaps? Or maybe a still-smarting Shearman? Or just worried because you and your breathren (and sistethren? A word?) are about to make the same mistake?
firms have been laying off people quietly...kirkland and proskauer come to mind
Posted by: info | January 14, 2008 03:51 PM
__________________________________
Care to share more?
Flavia, but I love the way all of your 14 flavors taste the same. How could they claim that you did not meet these "standards" of performance?
I’ve eaten burritos at plenty of restaurants in Rochester but I recently ate what is hands-down the best burrito. I don’t say that lightly either. I rarely can pick favorites with anything. Favorite CD? “Well, depends on what mood I’m in.” Or “This is one I’m listening to a lot now but that’s just because it’s new.” You get the idea. I’m wishy-washy.
But no. This burrito was just awesome and I am hereby declaring it my favorite. It was the beef burrito at Sol Burrito, on Monroe Ave near Goodman. My two dinner companions were also blown away by their burritos.
Now there’s probably some pompous know-it-all out there that will say “I’ve lived in [insert U.S. town close to Mexican border] and this isn’t authentic Mexican cooking”. You know what else isn’t authentic? Yer mom.
That was intended as an insult but I don’t think it quite worked. Let me try that again… You know what else isn’t authentic? Yer face.
No, still not insult-y enough. You know what else isn’t authentic? Yer mom’s face. Yes! Perfect!
OK so where was I?.. I don’t know a thing about what’s authentic and what’s not. I don’t care. Montezuma’s Revenge is also authentic Mexican but I don’t see you going to the store to buy some bottled Mexican tap water.
I’m always open to the possibility that there’s a better burrito in town, but these are the other places I’ve eaten at so if you’re going to mention one of them, you’re wrong. I’m not saying they’re bad. I quite enjoy some of these places but their burritos are inferior.
Chilango’s Mexican Restaurant
Desert Moon Cafe
John’s Tex-Mex Eatery
Maria’s Mexican Restaurant
Mex
Moe’s Southwest Grill
Paola’s Burrito Place
Salena’s Mexican Restaurant
Taco Bell
i enjoy this schtick. especially the inclusion of taco bell on this list...
4:07 - can you compare Sol Burrito to the tex-mex in nearby upstate cities? trying to decide whether it would be worth the trip.
Um, "Talahassee" guy, it's "TalLahassee."
You must have gone to Leon.
Schnick, What about the chimichanga at Moe's? That is muy authentic. Just like they sever in Oaxaca.
Re: TTT Questions
C'mon people, it took 4 seconds for me to find out on Google what TTT means.
And I go to one! Surely you biglaw Ivy League types are resourceful enough to figure it out.
dont know specifics - only know from a friend who worked at one of the places and knows people in both who were let go - not single digits - double over the last few weeks if not months...all on the down low. Cadwalader could have played it that way too - instead of making a broad annoucement and dumping em all at the same time (not smart) but i guess this is a testament to how disliked their firm is in comparison to the other two where people will keep it on the low out of respect for the firm or people i suppose.
The best part of the burrito piece is: "You know what else isn’t authentic? Yer mom’s face. Yes! Perfect!"
4:17 -- that's four seconds you won't be able to bill.
O'Sullivan runs the show in NY and those guys would need a dictionary to figure out the meaning of the word honesty.
4:21
Damn, 4 seconds of billable time is my BMW payment for the month.
Curse you ATL.
I try to interpret all bonus/salary/layoff issues through the appropriate lens: that of the money-hungry, associate-resenting partners on the associate comp committees.
It seems like partners in a certain tier of AmLaw/Vault 100 firms have bristled at the latest couple of rounds of associate comp raises and have tried to enforce accountability and encourage high productivity. It's just that they're doing it with the stick, not the carrot.
Yeah, it sucks, but you can *kinda* understand it. Lockstep raises make no sense except when you'll look bad by NOT doing them. And when you're paying a LOT more for the same work you were getting a few years ago for less, you'd probably think about ways to light a match under labor's ass in return.
"Trumped up" charges of performance shortcomings, bonus cutoffs ala Fried Frank, etc. might be the partners' ideas of good ways to send out a simple message.
And that message is: Get the f**k back at your desks, kids.
4:23, I thought OGK was pretty decent...no?
Yeah, the subprime meltdown was engineered by BigLaw partners to "discipline" associates. Please stop embarrassing yourself, partner at 4:33.
"Anyone, like me, remember when Shearman was comfortably in the top 10 in Vault prestige? Now? Clinging to 14 (having just barely moved up from 15)."
It always makes me laugh when I read dumb things like this. Rankings of most things law related are stupid. Their informational content doesn't extend beyond generalities. (Number 5 is likely better than number 45.) If you think that the fact that some firm is now only the 14th (instead of 7th) most prestigious firm in the country means something, you're an idiot. Just be glad that your comments are anonymous here, and please don’t every say something like this when you’re talking to somebody face to face. Rest assured, they will almost certainly think you’re an idiot. If they don't think you're an idiot, it's because they are an idiot.
Should OMM still be considered Big 3 after this?
No layoffs at Paul Hastings or Orrick....
Posted by: LA Hierarchy Shakeup | January 14, 2008 03:54 PM
Orrick as one of the "Big LA" firms? That shithole 40 person office? Keep dreaming. Skadden LA is like 4x as big, and Kirkland is also much larger. Both also, incidentally, have noteworthy partners and clients. What's Orrick got?
3:54: California Big 3 are OMM, GDC and Latham, not Paul Hastings and Orrick.....
Orrick has better vacuum cleaners.
The bigger question, really, is after the enormous downturn I've just seen, should I still be considered one of the Big 3 in Montana?
TTT=Tekken Tag Tournament
The Big 3 are Rosanne Barr, Andy Reid, and Reuben Studdard. Always have been, always will be.
The Big 3 are Miller Lite, NASCAR, and my second cousin. Always have been, always will be.
"get back at my desk" 4:33? How? Carve my initials into it?
If you know how to communicate clearly maybe you wouldn't have so many professional problems, dick.
The Big 3 are White Girls, White Girls, and White Girls.
4:33,
Why would partners bristle? Our rates have gone up more than commensurately. Oh riiiight, cause our rates would have gone up even if our salaries hadn't. Yes, you're right. I feel so bad that my raises cause partners' profits to increase by 5% instead of 15%. Got my ashes, now where's that damn sackcloth????
Idiot.
3:23 = patent attorney
d00dz, these firms could each lay off tons of people, and even if each of their reputations goes into the crapper, they'd still fill their recruitment needs. L2Ls will still come, cuz they'll take anything, especially if it's $160K.
Oh, you think your talents are special cuz you went to T-14? You think jerks with lower LSAT scores can't do what you do? Hell, ppl with nothing but undergrad degrees could do the work 1st years do - you learn everything on the job. Hof1Ls could easily do our work and work quality wouldn't suffer, even if firm prestige did.
Maybe clients want NYU grads and not NYLS grads doing their work, but when you come to it, pedigree doesn't matter with the work we do.
5:08, you don't get it. It's all about the jewelry; it's all about hanging on the rim.
Sol does make a damn good burrito. The beef variety blows away the chicken. That being said, I would drive a maximum of 20 minutes for this burrito as Mex and Salena's also bring the wood
5.08,
Say what you will, but first years don't stay first years forever (pretty much just for one year-- funny how that works), and after that when now second, third and fourth years start doing more substantive stuff, you can really start to see the quality differences. Smart people learn faster than dumb people, and really smart people learn faster than smart people. You may not like it, but it's a fact of life. Do you also think minor leaguers could play baseball as well as any major league player? Thought so.
There doesn't even seem to be an OMM apologist on here in denial mode. Bad sign.
that was a waste of a post and comments. where are ninjas? pirates? teddy bears named mohammed? Lazy, thoughtless posts -- follow your no-talent-ass-clown fairy-queen leader downt the last 15 nanoseconds of "fame". see you next bonus year, bitches!
Did everyone who uses "T-14" go to Georgetown?
Why T-14? Why not T-15?
I BRING THE WOOD
WHY IS LATS SERVER SO F-ING SLOW?! WTF?!?!
oh, and does anyone know where I can find empty soul gems? I gotta cure this vampirism before by boss finds me!
the mage's arcane university has a few empty soul gems on display.. good luck with vampirism!
4:40, i thought it was obvious that the point of LA Hierarchy shakeup was that Paul Hastings or Orrick might jump OMM for the third spot in the big 3.
Gandalf has lost his staff. I think a hobbit borrowed it -- those silly, gay hobbits' hijinks is always putting mordor on the brink of conquering the middle kingdom.
Why are there no good lawyer sci-fi fantasy books? That seems like a killer niche market. Ripped lawyer, that also has a glowing sword of dagon, but can see a red light in the eyes of anyone that has been a part of injustice. Now he must use his sword, and his legal training, to bring justice in the courts of corruption. Traveling in time, back and forth, from the past to the future, seeking to unlock the secrets of the government conspiracy and ultimately finding the darkness that lies at the heart of all civilization.
You would buy that, wouldn't you?
Anyone hearing anything about layoffs at Kirkland in Chicago???
5:14 - I do see what you're typing, but I think yer assumin' that there is a strong correlation between law school talent and bigfirm talent. I'm sure there is some correlation, but it can't be that strong, because each tests us in such different ways. I doubt we'd notice much of a quality difference among upper-level biglaw associates who went to T-14 schools as compared to other schools. And the upper level associates are all surviving for reasons quite apart from which law school they went to.
So, firms could fire our asses an get mostly TTT shaved apes/bears to do their work. A few of these would turn out to be talented enough, and those are all the 5th years you need.
That is AWESOME... I hope you get laid off and write some lawyer-warrior sci-fi... probably best thing that ever happens to you.
Grisham was a big-law layoff, and Scot Turow has fired more than a few aspiring big-law writer wannabees.
i think i actually started the simpson thacher rumor. i made (what was intended to be) a joke in the first thatcher profitt thread about simpson laying people off, assuming people would catch the similarity in the names.
so unless someone has concrete evidence about simpson, there's probably nothing there. sorry.
OMM NY is the problem. The rest of the offices are fine, but O'Sullivan -- the firm that "merged" with (read: took over) OMM NY several years ago -- has ruined the NY office.
It's a shame.
I share an elevator bank with OMM in NYC. There are less people riding the elevator in the morning.. not a good sign. Also, I heard a partner say he was shocked that OMM was laying off associates, becuase his group was so busy. I think it is true. If a firm does not respond to the number 1 legal blog, then they are good as admitting the truth.
I think this whole "layoff" buzz is amazing. I work at a top ten firm and I can't believe that people get their shorts in a bunch when people get laid off for not making hours and not performing up to snuff. In the legal world when you don't make your hours and have shitty performance reviews you are given 6 months to find a new job. In almost every other job market you are shown the door and given two-weeks severance. If I am way below hours and get drilled on my reviews I would expect to be shown the door.
4:37 - if you don't think you are a d-bag, well, wait for it...you're an IDIOT, jerk off.
Lawyers need to organize and unionize. These secret layoffs would NEVER happen on the docks... lawyers would need to hire some muscle, probably, but could do the legal work in-house. Writers strike, is nothing -- could you imagine an associates strike!
STRIKE!
5:34 = Lat.
In my experience dealing with OMM, they truly had the nicest people (whether it was fake nice or real nice is a whole other question). But, I would never put them in the same category as the other two in the big-3, because LW and GDC are definitely sounder structurally and financially.
4:37 is right though.
5:35: do you know where Gandalf's staff is?
Strike would never work. Too many scabs (sub-top-10 law school graduates). But, then again, if STAGE HANDS can strike --- anyone can. Have you ever seen a stage hand? They are imaginary beings -- how can they go on strike?! WTF?
To 5:35: Things aren't as clear as you say. Associates aren't making hours because there's no work around. Instead of coming clean that there just isn't enough work, firms are blaming the associates' work product for their failure to get work.
5:30, please elaborate. That is a fascinating theory and I would love more details.
The point 5:35 is NOT that lawyers are being fired for poor work, but good work is being described as poor work in reviews so that lawyers may be fired. Don't be a d-bag and understand what's going on...
So perhaps nobody on this board is old enough to remember, but OMM pulled this stunt before, a la Shearman, in the post dot com bust. Several associates at the lower end of the performance rankings in slow departments were given the ax. They were given two months and an opportunity to "interview" in other departments to save their jobs, but it was framed as a wholly performance-driven, blame was foisted on the associates, and a certain undeserved stigma (from the partnership_ attached to those who were able to port into other groups.
If there is a limited amount of work, then associates who dont get it SHOULD be let go. Common sense.
However, if you were the only one at your firm let go, and they said it was for performance reasons... then you were probably just fired.
TPW IS WINDING DOWN PARTNERSHIP!!!
halls are empty....
Bad news for OMM, great news for the big Cali regionals. They can pick up former seniod / mid-level OMM associates for cheap (dock 'em a couple of years' seniority) and bring on some good talent. Munger, Sheppard, Allen Matkins, Keker, etc., there's a whole mess of OMM attorneys who need a job. The line starts March 15.
The "problem" as it were, is that the OMM strategy is a failed one. Large comp bets on second rate partners with multi-year guaratees but no real business. Virtually all of the old O'Sullivan work has migrated to other firms and the practice is a shadow of its former self. That, and the fact that they simply treat people like crap, even by Big Law standards. I heard from a buddy who's there that they took one 8th year associate to dinner, told him he would "make it", and then didn't elect him partner. From what I hear, the associates don't trust the partners and think they will knife them in the back just as soon as shake hands.
I'm sure every firm has it's evils, but OMM is really a place to avoid. My own advice is "beware" and keep on walking.
I got fired because I was a seniod associate.
6:04, you are a dumbass if you can't spell.
6:04, I don't think the layoffs were in California. Besides, with the economy the way it is, what makes you think the big California regional firms are hiring. Maybe Allen Matkins, but only because its RE practice and the mortgage crisis. Everyone is in the same boat, and the market is dead.
Well said, 4:37, well said.
4:07 really said it all. I'm getting out of here.
I just heard a rumor that there were *LOTS* of layoffs coming up tomorrow at your firm. Did you hear anything?
BREAKING NEWS
ATL just laid off Billy Merck.
2girls1cup just laid off one of the girls. they claimed it was performance based
4:07 has some truly masterful insight.
Deez nutz just laid off one nut.
Who winds "down" a partnership?
6:04, uh, not really "great" news. Associates at the regionals tend to get a bit more in the way of real work experience, with exceptions. Associates at the Big Three spend most of their first several years doing doc review and writing letters. A fourth or fifth year MIGHT get a depo, if they really kiss up to the partners. There's a decent possibility that an OMM 6th-year has less practical experience than, say, a Mitchell Silberberg 3rd-year. Why would they hire someone they're going to have to pay tens of thousands more, when they already have the talent? It's not like the regionals are exactly bursting at the seams with business and need to take on extra associates.
Enough is enough! I've had it with all these motherfucking layoffs at all these motherfucking law firms! NY to 200!!!
Robert Heinlein actually wrote several science fiction novels where lawyers were key players. Stranger in a Strange Land for example. He also wrote a novel that ended with a hostile takeover and proxy fight and court battle.
OMM/NY is definitely going down the drain but the other offices are not in the same boat.
It is true that the O'Sullivan partners are behind the drive to get associates out. They don't know that OMM does not work like this. The problem is that the ACAC is still talking to NY partners. They need to go to LA and let them know.
The NY partners are not bringing in work and then blaming the associates for not working.
THERE IS NO WORK because the partners are horrible. LA or DC needs to shake up the partners in NY and save the associates whose careers are being ruined for no good reason.
The place is paranoid and no one really talks in more than a whisper. It's depressing and horrible.
LA: HELP US!!!
shark jumped
Im wondering what the hell theyre going to do with their summers?
how can they support a summer program and provide enough work to keep an additional 30+ folks busy?
My schlong is oh-so-long and gives ladies something to munch on.
This is bullshit. Rank nonsense. It's easy for anonymous posters to claim they're from OMM and post lies. I've asked friends in the NY office and partners out here in LA and they all have no idea what this is talking about.
Wanna bet it's some pissed off low-level slacking bad-attitude associate who didn't get a bonus 'cos he somehow thought 1500 would cut it, making up stories pretending that all's wrong in the world?
What does the word " 'cos " mean? Is it short for "becos"? I don't think that there is such a word.
10:32 - i call BS on all of what you've said. I have tons of friends at OMM having lateralled out of there (thankfully) and each of them has said the same thing - there is very little work, most of them are looking for other jobs and there is generally a very negative vibe at OMM's NY office. Perhaps you are the one making it all up?
random question: is it true that WLRK is a general partnership?
11:38 --
It's true that WKRP is NOT a general partnership.
9:50, summers are actually good since they generate extra work that real associates have to a) fix, b) do again, and c) provide feedback on so that summers feel loved.
I second 11:06. That was funny.
Also, to "OMM Mid Level," you can say what you want about ATL's "anonymous posters," but the fact is that these anonymous posters seem to get it right a substantial percentage of the time.
I like how the OMM shills post talking about "I call bullshit."
dont know specifics - only know from a friend who worked at one of the places and knows people in both who were let go - not single digits - double over the last few weeks if not months...all on the down low. Cadwalader could have played it that way too - instead of making a broad annoucement and dumping em all at the same time (not smart) but i guess this is a testament to how disliked their firm is in comparison to the other two where people will keep it on the low out of respect for the firm or people i suppose.
Posted by: info | January 14, 2008 04:19 PM
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I've seen some stealth at one of the two (basically staff attorneys and what looks like the usual attrition among 3d-6th years), but nothing in the double-digits in one fell swoop.
For what it's worth I think DPW is the only general partnership left among the big firms.
OMM is in complete lockdown this morning...
info: yes, stealth firings under cloak of fear and secrecy for performance is WAY better than public downsizing
Herb Tarlek to 205
Doesn't OMM have a big event every year for its new associates at the Ritz in Pasadena? I want to work there!
Sounds like OMM Mid-level needs to get a better grasp of what's going on at his/her firm. LA is a long way from NY and most of OMM LA still thinks it's a premier firm.
Most of what has been posted about OMM NY is true -- I was there at the time of the O'Sullivan deal. The O'Sullivan guys both helped and hurt OMM. They helped it by taking a second-rate office and trying to turn it into a player in the NY market. Unfortunately, they extracted many pounds of comp flesh in doing so in exchange for the promise of a big PE practice and now OMM has a bunch of NY partners pulling in over $2mm/year, but very few, if any, has $2mm in business. As I noted last night, O'Sullivan's two largest clients have long since migrated to other firms (although everyone at OMM will tell you that they are still Apollo's "go to" firm; sure you are -- can anyone say "Wachtell"?).
They hurt it because as the business dried up, the place became competely mercenary as the O'sullivan partners sought ways to justify their excessive comp in the face of declining business. They threw person after person under the bus and even threatened to leave in order to extract new guarantees (an empty threat if there ever was one since it's the worst kept secret on the Street that these guys have no business). It really would make an interesting B school case study to try to figure out what OMM mgmt is thinking by doling out the bucks in NY to partners that have no option but to stay.
My own opinion is that OMM is too red-faced about things to admit that NY isn't working out as hoped for, and the guys in NY ain't gonna make waves for fear that someone may declare that, in fact, the emperor has no clothes. Oh wait, I think that's already public knowledge! If nothing else, I feel bad for those still there, but it will be very interesting to see if mgmt. does anything in the coming year to adddress the situation. Unfortunately for those that are not OMM Alums, I am not optimistic.