What You Need to Know

• Gunderson Dettmer had two rounds of layoffs this fall after a steep drop in emerging companies and venture capital demand.
• The cuts affected at least 30 associates, who were told to find work due to performance issues, though sources dispute the cause of the cuts.
• The news comes on the heels of similar layoffs reported at Cooley, and some sources expect partner departures at Northern California firms could be next.

Gunderson Dettmer Stough Villeneuve Franklin & Hachigian cut a group of associates in New York and Bay Area offices in September and this week due to a decline in billable work, according to four people with direct knowledge of the two rounds of cuts.

Coming on the heels of the firm’s deferral of associate start dates until January 2023, the layoffs at Gunderson affected about 10 associates in late September and about 20 more this week, according to sources in contact with affected individuals. Many of the associates recently let go were onboarded in recent years’ rush to hire corporate lawyers, only to be let go shortly after joining the firm.

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