Kent Zimmermann

These are not outliers. They’re not anomalies. It is something that’s happening quietly in many, many firms in the industry.

– Zeughauser Group consultant Kent Zimmermann, commenting on the stealth layoffs that have been going on at Biglaw firms around the country. In fact, according to his sources — all managing partners — at least three major firms will soon be conducting another round of layoffs.

So yeah, Dewey is history. Everyone and his mother has written about what the bankruptcy of the “storied” law firm means. According to Kent Zimmermann, a legal consultant at the Zeughauser Group, Dewey could represent one of the first dominos. “Dewey’s failure is rocking the industry in the sense that most firms are saying to themselves, if Dewey could go down, could we?”

And for most firms, the answer is yes. After all, Dewey cited the economic downturn and massive partner compensation arrangements as the root causes for the firm’s collapse. Those causes are common to many large firms. Surely we have all seen the images of those sweet pads in Lawyerly Lairs. Reading those tea leaves, it is clear that Armageddon is a comin’ (or a stayin’, if you consider the other Biglaw firms that have folded).

Dewey’s fate is sad. Well, at least for Dewey and for other large firms. It might be good news for others, however. And, no I do not mean the other Biglaw firms who got to score them some Dewey rainmakers….

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