Nationwide Layoff Watch: Beware, More Layoffs Are Coming
Yikes! Are layoffs at other firms really "inevitable"?
Firms have more lawyers than work right now. Yes cuts were made [during the recession], but no, the cuts were not sufficient. The cuts were not deep enough to align with a reality that is more persistent than a lot of people expected at the time.
— Eric Seeger, an Altman Weil consultant, offering his thoughts on the state of the legal industry in the wake of the recent attorney cuts at Reed Smith. Seeger further warned that “layoffs at other firms are inevitable” due to the fact that attorney headcount and client demand continue to be at odds.
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