Morgan Lewis has laid off 55 attorneys and 160+ support staff, and they're deferring this year's new-graduate hires not to January 2010 but to October 2010. But let's be clear: this isn't "deferral"; this is "no new hires for 1 year." (Inky).
The Inky article states that Morgan Lewis did not clarify how many of the 55 and 160+ have been let go from the Philly office; Morgan Lewis has offices around the country.
The deferees can ask for a $5K/month stipend if they get public-interest work. Great! More competition for me, who wouldn't have been a candidate for the Morgan Lewis types of firms in the first place.