Wilson Sonsini Goodrich & Rosati
Lawyers to Sue Lawyers
After 7 partners in their London office decided to pack up and leave for Paul Hastings, Caldwater Wickersham & Taft has threatened to sue. This comes after an initial promise of an amicable separation. Under direction from Caldwater, UK employment specialist, Lewis Silkin, has written a letter before action is taken to the departing partners stating that they broke the terms of their partnership agreement by enticing associates and support staff to leave with them.
6 Senior Legal Staff Laid Off at Merrill Lynch, 35,000 Cuts to Follow
Merrill Lynch's global restructuring led to the decision Monday to immediately part ways with 6 of their top legal staff. Merrill Lynch was acquired by Bank of America last September for $50 billion and has made no secret of what lies ahead for the financial behemoth. While the investment bank's vice chairman and general council, Rosemary Berkery, will retain her position, the same cannot be said for everyone else. According to a Bank of America spokesperson the company intends to eliminate 30,000 - 35,000 jobs over the next three years. The spokesperson said the cuts would come from both companies and from all lines of business and staff units.