How Much Do Clients Care About Huge Biglaw Layoffs?
Not a whole lot, actually.
Informed people understand most law firms are wrestling with overcapacity. Most firms have room to strengthen performance by addressing overcapacity. The negative buzz goes for a couple of days or a week, and then it’s gone. [T]he cost of not addressing chronic overcapacity is usually far greater.
— Kent Zimmermann of the Zeughauser Group, offering his thoughts in the wake of the mass layoffs at Seyfarth Shaw on the impact, or lack thereof, that law firm layoffs tend to have on clients and prospective clients. Tom Clay of Altman Weil agreed, noting, “You know if people aren’t busy you are going to let them go. Clients aren’t going to see that as a big revelation. We all know in our hearts and minds we have too many lawyers, and too many that don’t have enough work.”
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Staci Zaretsky has been an editor at Above the Law since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, or comments. You can follow her on Twitter or connect with her on LinkedIn.