Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Subprime Woes Hit New York Law Firms

For the first time since 2001, lawyers are being let go

By Jim O'Neill, Newser User

Posted Nov 21, 2007 10:52 AM CST

(Newser) – The continuing mortgage crisis and tightening credit markets are claiming a new batch of victims: Lawyers. Layoffs at Clifford Chance, the world's highest-grossing law firm, have started, Bloomberg reports, and up to 5% of salaried associated at New York law firms may get the ax... Read full story »

COMMENTS

Read the comment policy

You need to Log in to Newser to comment. Don't have an account yet? Sign up now!

There are no comments

A snapshot of the day's best news stories.

View Larger Grid

All Today Yesterday Pick a Date

What's Popular Now on Facebook

Japanese Artist Serves Up Own Cooked Genitals

Rape Conviction Cleared, Thanks to Facebook

Bloomberg (Source Grid »)

Fed says US growth will slow
Associated Press

Equity firms aren't only ones hurting
Wall Street Journal

Money

subprime mortgages • unemployment • lawyer • US economy • Clifford Chance • attorney

More Newser Stories

Unemployment Falls to 8.1%, but News Not All Good

Just 115K jobs added in April: jobs report

(NEWSER) - The unemployment rate fell to 8.1% in April, the lowest it’s been since January 2009, the Wall Street Journal reports. But that still gets an "ouch" from blogger Steven Russolillo since just 115,000 jobs were added, when as many as 168,000 had been expected. "It fell below expectations and even came in under the so-called 'whisper numbers,'" which were around 125,000, he writes. More»

Smile: People Are Quitting Their Jobs

It's a sign of economic confidence

(NEWSER) - February saw 2 million Americans quit their jobs—the most since November of 2008. And that's a very good sign for the rest of us, the Wall Street Journal notes. Quitting points to confidence in the economy, analysts say: If people don't think they'll be hired elsewhere, they tend to stick to their jobs. More than 3 million people quit their jobs per month before the recession; the figure fell to a record low 1.6 million in September 2009. More»

Unemployment Drops to 8.2%

But economy adds just 120K jobs

(NEWSER) - The unemployment rate dropped to 8.2% last month, but the economy only added 120,000 jobs, when 203,000 new jobs had been predicted, according to today's jobs report. Reaction on the Wall Street Journal's MarketBeat Blog was swift: "Woah!!! Bad number." The unemployment rate, however, is better news; it had been expected to hold steady at 8.3%. But the AP notes that the dip is mostly due to more Americans giving up on seeking employment. More»

Unemployment Steady at 8.3%

Economy adds 227K jobs in February, more than expected

(NEWSER) - The unemployment rate held steady at 8.3% in February as had been expected, today's jobs report shows. And good news: The economy added 227,000 jobs last month, when only 213,000 had been expected, the Wall Street Journal reports, noting that stock futures were up after the announcement. December and January jobs figures were also revised upward. The result? An average of 245,000 jobs have been added for each of the past three months, which is double the pace the US saw between May and November. More»

In Surprise, Unemployment Falls to 8.3%

243K jobs were added in January: jobs report

(NEWSER) - The unemployment rate had been expected to hold steady at 8.5%, with just 125,000 jobs added—instead, unemployment fell to 8.3% and 243,000 jobs were added last month, according to January's better-than-expected jobs report. The report has Wall Street Journal bloggers particularly effusive: "America's back, baby. America's back." Stock futures are also up on the news, the Journal notes. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Subprime Woes Hit New York Law Firms

For the first time since 2001, lawyers are being let go

subprime mortgages • unemployment • lawyer • US economy • Clifford Chance • attorney

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Unemployment Falls to 8.1%, but News Not All Good

Just 115K jobs added in April: jobs report

Smile: People Are Quitting Their Jobs

It's a sign of economic confidence

Unemployment Drops to 8.2%

But economy adds just 120K jobs

Unemployment Steady at 8.3%

Economy adds 227K jobs in February, more than expected

In Surprise, Unemployment Falls to 8.3%

243K jobs were added in January: jobs report

About Us

Site

Community

Site Maps

Tools

More News

What is Newser?