Fenwick & West offices in Washington, D.C. Photo: Diego M. Radzinschi/ALM Latest Big Law Layoffs Illustrate Inconsistency in Market as Some 'Still Haven't Seen That Bounce Back'
"Our talent levels became misaligned with our existing and projected client demand, particularly in our large transactional practices. I take responsibility for this and am truly sorry that those decisions have led to a significant impact on our people today," said Fenwick & West's chair.
February 14, 2024 at 03:59 PM
4 minute read
What You Need to Know
- Fenwick & West is the latest to announce layoffs, citing lower demand after a surge in hiring.
- This year utilization remains a problem, observers and analysts have said, as some firms expect deal work to improve only incrementally.
- The tech sector in particular just hasn't shown enough resilience, other analysts say.
Despite impressive gains at the top of the Am Law 200 charts and a mindset geared more toward growth, layoffs and cuts continue to rattle the industry.
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