Legal News

Cadwalader to Cut Nine More Associates

By Dan Slater

A spokeswoman for Cadwalader has confirmed that it’s laying off 3 associates in its New York office and six in its Charlotte office.

“Cadwalader confirms limited terminations of a few associates in the Charlotte and New York offices; and adjustments to our Charlotte-only compensation schedule,” wrote firm spokeswoman Nicky McHugh in an email.

Last week, the firm announced that its average profits per equity partner — or PPP — fell more than 30 percent, from $2.73 million in 2007 to $1.88 million in 2008. “I’d like to think that we put most of our pain in 2008,” White told the American Lawyer, adding that the $1.88 million profit number “is not too shabby.”

Full post as published by Law Blog - WSJ.com on January 22, 2009 (boomark / email).