Friday, November 30, 2007

Wall Street Lawyers Laid Off Due to Mortgage Mess
4 months Severence for 1st Year Associates

According to Legalweek.com, A 350 lawyer Wall Street firm is laying off up to 50 associates due to a slow down in the mortgage security market. The portion of the laid off associates who are 1st year associates will be offered 4-months severence pay.

This is only 4 months more severence pay than laid off UAW Legal Services lawyers make during slowdowns in the auto industry.
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