Layoffs
Law Firm Cuts ‘Getting Deeper’
Last fall, news of law firm layoffs in the dozens were surprising; this year some law firms are announcing layoffs affecting hundreds of people.
The latest layoff news comes from Orrick, which laid off about 100 associates and of counsel and 200 staffers yesterday.
The National Law Journal says the layoffs highlight a new trend: “Firm cuts generally are getting deeper.”
Other firms making deep cuts include Latham & Watkins, which laid off 440 lawyers and staffers on Friday, and Holland & Knight, which cut 243 lawyers and staffers last month.
Other trends identified by the NLJ: Law firms are making successive rounds of layoffs, severance packages are getting smaller, and firms are delaying associate start dates.
