Will Client Demand For Greater Value Lead to Meaningful Change Inside Law Firms?

As law firms strive to provide more “value” to clients, legal industry insiders warn that without a permanent overhaul of business practices, firms will face decreased profitability in 2010. Cynics say the mass amounts of law firm layoffs last year – 12,196 people were laid off at 138 large law…

Jan 4, 2010 6:28 PM CST

BigLaw Laid Off More than 12,000 People in 2009, the Worst Year Ever

Last year was the worst year ever for layoffs at large law firms, but there is one bright spot in the statistics: The pace is slowing. According to the blog LawShucks, 12,196 people were laid off at 138 large law firms tracked last year. In all, 4,633 lawyers and 7,563…

Jan 4, 2010 12:55 PM CST

Condolences, Conundrums

Jan 2, 2010 5:10 AM CST

Shift to Smaller Firms & Value Challenge Aren’t Killing Billable Hour, Consultant Says

As attorneys and law firms have responded to the economic debacle of the past year or so, there have been significant shifts in the way they do business. But a great deal—including use of the much-criticized billable hour—hasn’t changed all that much, nor does it need to, consultant Robert Denney…

Dec 18, 2009 6:19 PM CST

Awkward or Not, Go to the Holiday Party, Recruiter Advises Laid-Off Associates

Last week, we reported that Morgan Lewis & Bockius invited their laid-off associates to the firm’s holiday party as alumni. The firm’s actions prompted law blog Above the Law to poll its readers whether these associates should return for the party. More than 75 percent have said “no way,” and…

Dec 16, 2009 11:24 PM CST

WolfBlock Alums Gather for Party; About 1/3 Are Jobless or Underemployed

About 180 alumni of the dissolved law firm WolfBlock are gathering today for a holiday party in Philadelphia’s Park Hyatt. The aim is to socialize with old friends and to provide networking opportunities for those still without jobs, the Legal Intelligencer reports. Former WolfBlock executive committee member Jonathan Segal told…

Dec 16, 2009 1:44 PM CST

WilmerHale Joins Growing Group of Law Firms in Eliminating Lockstep Pay

Joining a number of other well-known law firms that have announced plans to eliminate so-called lockstep pay, Wilmer Cutler Pickering Hale & Dorr announced today that it will be moving to a merit-based system that rewards individual performance and relies more heavily on bonuses. The planned elimination of the current…

Dec 16, 2009 1:11 AM CST

Sonnenschein Sets New 3-Tier Pay Plan for Associates, Confirms Staff Layoffs

Apparently implementing a strategic initiative announced earlier this year, Sonnenschein Nath & Rosenthal has announced a new three-tiered associate compensation plan. Billed as offering flexibility to all associates and a faster track to partnership and higher pay to star performers, the new plan features merit-based pay tied to advancement, based…

Dec 16, 2009 12:24 AM CST

Some Law Firms Begin Firing Equity Partners, Despite a Better Third Quarter

Law firm layoffs are beginning to hit partners—including equity partners, according to a legal consultant. Dan DiPietro, head of client relations for the law firm group at Citi Private Bank, tells Bloomberg that law firms laid off more lawyers in the third quarter than the second. Some are eliminating partner…

Dec 10, 2009 2:08 PM CST

Brinks Hofer Cuts 7 Lawyers & 19 Staff, May Reduce Associate Pay Next Year

As other law firms made layoffs, deferred start dates for new associates and cut attorney pay in response to the difficult new legal economy of the past year or so, Brinks Hofer Gilson & Lione stayed the course. But that changed today, when the Chicago-based intellectual property firm announced layoffs…

Dec 9, 2009 12:56 AM CST

‘Tis the Season for Law Firms to Invite Laid-Off Lawyers to Holiday Parties

An invitation to a holiday party being hosted by Morgan Lewis & Bockius wasn’t greeted as glad tidings by every recipient. While being included in the event is perhaps a nice gesture, hearing about the firm’s successful year in a lengthy newsletter to law firm alumni hasn’t put them in…

Dec 8, 2009 11:33 PM CST

DLA Piper Downsizes Again in Dubai, Hires Alston Partner to Head Financial Practice Group in D.C.

DLA Piper is laying off seven lawyers and 10 staff members from its offices in the Middle East because of a business slowdown there. Most of the layoffs are in Dubai, reports Legal Week, which also says the international megafirm plans to transfer another 14 individuals, including some partners, to…

Dec 8, 2009 1:11 AM CST

2,900 Law Jobs Lost Last Month—and More in Sept. and Oct.

Updated: The overall U.S. unemployment rate fell to 10 percent from 10.2 percent last month, but the legal services sector still didn’t get off too easy. According to seasonally adjusted numbers, the law sector lost 2,900 jobs in November, the Bureau of Labor Statistics says in this month’s report (PDF).…

Dec 4, 2009 5:52 PM CST

Advice for Job-Seeking Lawyers: Cast a Wide Net, Don’t Vent

Deferrals, long periods of unemployment and layoffs are no longer the black marks they once were for those lawyers looking to find a new or a first job. So says career consultant Kate Neville in a column for the National Law Journal. Neville says that at this point in the…

Dec 1, 2009 11:18 PM CST

The Cost of a Law Firm Layoff: Multiply Senior Lawyer’s Salary by Five

Law firms are laying off lawyers with an eye toward cost savings. But Wharton management professor Peter Cappelli says there are also costs associated with a “brain drain” and they can amount to about five years’ salary for the layoff of just one senior lawyer. Speaking in an interview with…

Nov 25, 2009 3:00 PM CST