Overcapacity and Low Demand
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Overcapacity and Low Demand

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December 18, 2023 | Analysis

Proskauer Layoffs Underscore String of Big Law Cuts in 2023

The firm's moves are consistent with a slew of large law firms making staff and associate cuts in 2023, as firms focused on efficiency, outsourcing and productivity in a year of declining demand.
8 minute read
January 05, 2024 | News

With Higher Optimism in Deal Market, Big Law Firms Recruit M&A Partners to Kickstart Year

For partners, make-whole signing bonuses are trending up again, said Major Lindsey recruiter Kirsten Keegan Vasquez, as firms become more comfortable spending on talent than they were in 2023.
4 minute read
December 29, 2023 | News

The Stroock Files: The Journey Through Lateral Exits, Merger Talks and Dissolution

Over a year's worth of reporting on the issues and events that led to Stroock's downfall
8 minute read
December 27, 2023

8 Stories That Changed the Legal Industry in 2023

From A&O Shearman to Israel-Gaza—here are our picks for the biggest stories of the year.
8 minute read
December 08, 2023 | News

Layoffs at K&L Gates Hit Associates in Chicago, Boston, DC, Pittsburgh

Every year, K&L Gates manages headcount based on "personnel performance, client demand and related reviews," which typically result in "personnel decisions," the firm's representative said in a statement. Leaders declined to comment directly on the cuts.
3 minute read
June 27, 2023 | News

Goodwin Performance Reviews Lead to Cuts, as Midyear Reviews Increase

Sources confirmed cuts at Goodwin that coincided with the firm's midyear review process this week.
4 minute read
June 21, 2023 | News

Perkins Coie Defers Incoming Corporate Associates

Corporate associates will receive a $15,000 stipend and begin in January. Perkins is the latest of several tech-oriented law firms to defer its incoming class.
2 minute read
June 14, 2023 | News

Reed Smith Cuts Global Workforce by 50 to Address Demand Slump

Around 20 staff members and 30 lawyers, including those in corporate practices, are affected, according to sources with knowledge of the cuts.
3 minute read
June 13, 2023 | News

Orrick Lays Off Attorneys and Staff, Defers Incoming Class

The firm is letting go of about 40 associates and 50 staff members due to reduced client demand in some areas and the impact of technology, data and the evolving workplace on the type of support it needs to operate.
2 minute read
April 11, 2023 | News

Cooley Deferred Its Incoming Class. Will Others Jump on the Bandwagon or Hold the Line?

Cooley delayed the start date of its incoming class. But consultants aren't sure other firms with follow suit, given Cooley's tech-sector positioning and the caution that many firms are exercising after the financial crisis.
6 minute read
June 05, 2023 | News

Eckert Seamans Cuts Staff by 2%

The reductions are concentrated in the firm's Pittsburgh and Philadelphia office, according to a spokesperson.
2 minute read
June 01, 2023 | News

Fenwick Defers Incoming Class as Tech Sector Headwinds Drag On

Fenwick & West is the third tech-focused law firm to defer its incoming class.
4 minute read
May 25, 2023 | News

Bryan Cave Leighton Paisner Cuts 47 Staff Globally, Citing Excess Capacity in Secretarial and Administrative Roles

The global law firm announced the layoffs Thursday morning, stating affected employees had been notified and provided with "competitive" severance benefits and outplacement assistance.
2 minute read
May 17, 2023 | Analysis

Dechert Becomes the Latest Firm Caught in Boom-and-Bust Hiring Cycle

The cuts announced last week return the firm to 2021 staffing levels.
5 minute read
April 18, 2023 | News

Cadwalader Makes Cuts in Associate and Business Professional Ranks

Sources familiar with the moves said the cuts in business professionals addressed business and efficiency needs while the attorney cuts followed the firm's annual review process.
2 minute read
April 04, 2023 | News

Gunderson Lays Off 10% of Attorneys and Staff

"This action was not taken lightly, but we needed to right-size the firm after two years of extraordinary client demand," Gunderson managing partner David Young said in a statement.
2 minute read
April 03, 2023 | News

Kirkland's Latest Cuts Targeted Even Busy Associates

"These were not layoffs," a spokesperson for Kirkland said of the cuts, which impacted attorneys in California, Salt Lake City, Chicago and Texas. "These were performance-based decisions resulting directly from our attorney review process, just like we do every year for all attorneys at all levels."
5 minute read
March 16, 2023 | News

Lowenstein Lays Off 16 Business Professionals in Multiple Offices

The layoffs in New York, New Jersey, and Washington, D.C., came even after the firm saw a 12% hike in revenue last year.
2 minute read
January 09, 2023 | News

Stroock Latest Big Law Firm to Lay Off Staff, Attorneys

The firm cited "more attorney and staff resources" than it needed "for the foreseeable future" as the driver behind the head count reduction.
3 minute read