Yesterday, nearly 1000 big law firm employees were laid off (across many firms, across many states). This Herald article talks about layoffs at one local firm:
It’s the legal world’s Valentine’s Day Massacre: American law firms just eliminated some 1,000 jobs.
With the economy in the dumps, the mergers and acquisitions that required legal expertise just aren’t happening. And the loss of revenue has forced many businesses to scrutinize their costs. So for a handful of reasons, law firms aren’t getting the amount of work they used to.
Since the start of 2009, [Above the Law] has reported on about 2,000 job cuts at law firms. Then yesterday, he tracked an additional 1,000 cuts.
Those cuts included 74 layoffs at the Boston-based Goodwin Procter.
Other area law firms that have reduced Boston staffers in recent weeks include Choate Hall & Stewart, Cooley Godward Kronish LLP, DLA Piper US LLP, Fish & Richardson PC, Foley Hoag LLP, McDermott Will & Emery and Nixon Peabody LLP.
Yes, I'm still employed, though everyone at my firm is on edge. Management hasn't talked much, but there was already a round of staff layoffs and there's been some very sketchy attrition recently... the kind where someone is around one day, and then suddenly their office is empty the next. It's weird to operate in a world where you expect to get information about your employment from an online gossip blog.
I wish the very best of luck for those laid off yesterday (along w/ the millions since this economic downturn began). I know it isn't much but....The human cost of this economic downturn is really humbling.
Wow, I had offers from a couple of those firms you mentioned.
I'm doing ok as well, although they eliminated some people at my (medium-sized) firm. I'm the only associate left in my practice group now. But on the upside, I'm really busy since I'm the only left to do the work!
Posted by: teahouseblossom | February 14, 2009 at 05:53 PM