Perkins Coie Is The Next Firm To Defer Incoming Associates
Good news, this isn’t a layoff article. Bad news, the contents don’t exactly bode well for the market either. We’ve got another firm delaying associate start dates. This time, its Perkins Coie. And while it isn’t the full year delay that Cooley offered a few of its associates, 4 and a half months is still quite the chunk of unexpected free time.
From Bloomberg Law:
The Seattle-founded firm has moved start dates for its first-year associates—except those in the intellectual property practice—from this fall to Jan. 16, 2024, Perkins Coie told the associates in a memo from managing partner Bill Malley viewed by Bloomberg Law. Those associates joining the firm’s intellectual property group will start Sept. 18, 2023, the memo said. The move is in response to “challenging market conditions that have slowed demand for legal work in several areas of practice,” Malley said in the memo. The firm is providing a $15,000 stipend to cover living expenses for those deferred, according to the memo.
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I guess the take away here is that if you’re looking for some consistent work and aren’t willing to go into something completely market-resistant like tax or billing 277 hours for each 20 documents you review, right now wouldn’t be a bad time to consider IP. A bunch of previously accepted commercial transactions could become legally questionable in light of the recent Warhol and Jack Daniels decisions and what they mean for fair use.
Is your firm planning to start making major deferral offers to associates? If you have any intel, please don’t hesitate to let us know. Best of luck to all affected incoming associates at Perkins Coie.
If your firm or organization is reducing the ranks of its lawyers or staff, whether through deferrals, open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477). Thank you for your assistance.
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Perkins Coie Delays Starts for Some First-Year Associates (1) [Bloomberg Law]
Chris Williams became a social media manager and assistant editor for Above the Law in June 2021. Prior to joining the staff, he moonlighted as a minor Memelord™ in the Facebook group Law School Memes for Edgy T14s. He endured Missouri long enough to graduate from Washington University in St. Louis School of Law. He is a former boatbuilder who cannot swim, a published author on critical race theory, philosophy, and humor, and has a love for cycling that occasionally annoys his peers. You can reach him by email at cwilliams@abovethelaw.com and by tweet at @WritesForRent.
Source: Above the Law
