Demand for legal services is down slightly, while lawyer head count is increasing—a combination that is resulting in a decline in average billable hours, according to a survey of BigLaw firms by Wells Fargo’s Legal Specialty Group.
Law firms looking for a way to save money without layoffs are increasingly adjusting associate class years, according to legal recruiters in California and New York who spoke with Law.com.
Cooley has pushed back its start date for new associates from November 2023 to January 2024, according to reports by Bloomberg Law and Law.com that rely on anonymous sources.
Silicon Valley-based law firm Gunderson Dettmer Stough Villeneuve Franklin & Hachigian said in an internal memo Tuesday it is laying off 10% of its lawyers, paralegals and staff members in its U.S. offices “in response to current macroeconomic and market conditions.”
Lateral associate movement at Goodwin Procter flowed both ways, as the law firm boosted productivity and head count during a period of rising deal work.
