As with everything else that can be trimmed, firms’ vacation schemes are being scaled back through the downturn. The beauty contests for future trainees are being chopped into all over the place with firms citing a variety of reasons including students’ need for flexibility, lack of popularity (particularly at Easter) oh, and cost as well.

So where are students going to find it more difficult to grab a coveted place on a vac scheme this time round? The Lawyer has looked at where the largest number of placements have been lost. Here’s a brief summary of where the cuts have landed:

Eversheds and Field ­Fisher Waterhouse have cancelled all of their summer vacation schemes and closed their graduate recruitment ­programmes until 2010. Allen & Overy cancelled its Easter scheme for 2009 citing ‘lack of interest’ from ­students; its summer and winter programmes remain. Hill Dickinson cancelled its Easter vacation scheme. Halliwells has reduced its ­summer schemes from three to two in most offices. Charles Russell has cut its two-week ­summer programme in half. Lovells has scrapped next year’s Christmas and Easter schemes but two schemes will go ahead  in summer of 2010. Freshfields Bruckhaus Deringer has scrapped its Easter placement but summer schemes will remain for 2010. A&O chopped its Easter scheme earlier this year. CMS Cameron McKenna has cancelled its two-week Christmas ­programme and Pinsent Masons has also cut back its summer scheme.

As if students needed more good news to keep them motivated…

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Graduate Outlook Gets Grimmer

Students face heavy competition for vacation places as firms slash schemes [The Lawyer]