About 68 Ex-Thacher Lawyers Out of Work; ‘It’s Not a Time to Be Too Picky'
More than 65 lawyers from the dissolved law firm Thacher Proffitt & Wood are apparently still out of a job.
The number includes eight partners and about 60 associates, many of whom practiced in structured finance and real estate, the National Law Journal reports. The publication’s estimate is based on interviews with former Thacher Proffitt partners and records from the New York State Unified Court System and LexisNexis Martindale-Hubbell.
Shortly before the collapse of Thacher Proffitt, about half of its 200 lawyers joined Sonnenschein Nath & Rosenthal.
Severance packages for lawyers who didn’t make the leap are expected to end this month, the story says.
One former structured finance partner who remains unemployed told the National Law Journal that “big firms are hunkering down” and don’t want to hire a partner without at least a $1 million book of business.
Another partner who worked in real estate told the NLJ he is expanding his job search. “Any option is on the table right now,” he said. “I’m looking at government jobs, law firm jobs, in-house jobs. It’s not a time to be too picky.”
