Just last year, Cadwalader, Wickersham & Taft was riding high, having reached economic heights previously scaled only by the Cravaths and Wachtells of the profession. In an interview at the time, the firm's then-chairman predicted there'd be no problem sustaining that success "short of some cataclysmic event." Cadwalader is now facing just that kind of event, announcing it is laying off 96 lawyers due to slowness in core practices. It's the second round of layoffs for the firm, which cut 35 lawyers in January.
With 96 More Layoffs, Cadwalader Faces Its 'Cataclysmic Event'
New York Law Journal
July 31, 2008