Layoff Season Winds Down as Law Firms Firms Prepare for Demand Uptick
Cuts at Katten Muchin Rosenman and Armstrong Teasdale don't reflect rebounding demand for transactional attorneys, recruiters said.
August 04, 2023 at 02:43 PM
3 minute read
Layoffs hit two Midwestern firms in the Am Law 200 this week, with Katten Muchin Rosenman announcing cuts of fewer than 5% of attorneys and staff amid a slump in demand and Armstrong Teasdale dismissing 24 staffers due to a desire to streamline operations. The latter firm also cut 11 lawyers following performance reviews.
The cuts followed June layoffs at Orrick, Herrington & Sutcliffe and Reed Smith, which impacted a total of 90 attorneys and staff at Orrick and 50 total employees at Reed Smith. Law firms that service Silicon Valley saw more turmoil earlier in this year as Gunderson Dettmer Stough Villeneuve Franklin & Hachigian let go of 10% of U.S. attorneys and staff in April.
This week's cuts differed from many of this year's layoffs, because the affected firms aren't heavily leveraged into the floundering tech sector, but they also shouldn't be considered a bellwether of more layoffs to come this fall, according to recruiters in the Midwest and elsewhere.
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