Monday, April 13, 2009

Sabbaticals in BigLaw?

Big City - Skadden, Arps Offers Lawyer $80,000 to Take a Year Off - NYTimes.com

You may have heard that US firms are having a bit of a tough year.... As a result, many of them are asking their incoming 1st year associates to arrive a little later in 2009, in some cases in 2010 and in others not at all.

One firm, Skadden, Arps, Slate, Meagher & Flom is giving every one of their associates the chance to take the year off and pocket $80,000 for the privilege of not showing up to work.

Sounds like a pretty good deal. Perhaps they should offer this at all firms to stem the layoffs?

On a related note, layoffs are happening in Canada too but not at quite the same pace as below the 49th parallel.

RW

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