Big Shitpile hits close to home:
July 30 (Bloomberg) — Cadwalader, Wickersham & Taft, the New York-based law firm founded in 1792, will fire 96 salaried lawyers in the U.S. and London because of “a significant slowdown” in real-estate finance and securitization work.
“Cadwalader has adapted to this market reality,” the firm said today in a statement sent by spokeswoman Claudia Freeman. Cadwalader fired 35 lawyers in January. The latest round of cuts will leave the firm with 580 attorneys, the same number as in January 2006, it said.
Big Shitpile - it’s not just for bankers anymore.