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Global intellectual property firm Fish & Richardson, which earlier this month laid off 35 lawyers and 85 staff, has rescinded job offers to one-third of its 2009 incoming associate class.
One third of the incoming class will start on time, in Fall 2009.
Another third will be deferred to 2010. They will get a stipend of $5,000 per month for 12 months, along with reimbursement for health insurance.
And the final third has been told that a future position with the firm is “unlikely,” and they should look elsewhere for employment. These grads will, however, get a stipend of $5,000 per month for six months, along with reimbursement for health insurance.
The firm says it will “revisit their situations” in mid-2010. Which translates into English as “go away.”
Founded in 1878, Fish & Richardson is one of the largest in the world practicing intellectual property, litigation, and corporate law, and has as a legal staff of more than 450 attorneys and 1,200 employees in 12 offices across the globe, including an office in Munich, Germany. It opened its 11th US office in Houston in October.
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