(Credit: Parradee/Adobe Stock) Hiring Pauses, Stealth Layoffs at Top 50 Law Firms Signal Industry Austerity
Cooley has reportedly implemented a freeze on hiring associates, while sources say Reed Smith is responding to dipping profitability in lower performing regions by easing out senior lawyers who lack substantial books.
September 08, 2022 at 05:00 AM
5 minute read
Top law firms are beginning to show signs of austerity following the frenzied lateral hiring market in corporate practices in 2021. Multiple firms in the Am Law 50 have reportedly begun to take measures aimed at managing their attorney ranks.
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