Some of these 78 lawyers, are they going to have a landing spot? Probably not. There aren’t a lot of immediate openings for ECVC [emerging company, venture capital] or capital markets. They might need to reposition, go down market or in-house. Big Law opportunities will be scarce.
— Nick Goseland, a Bay Area legal recruiter at Macrae, in comments given to the American Lawyer, on what the lawyers who were recently laid off at Cooley should be expecting when it comes to their futures in the legal profession. Last month, Cooley laid off 150 employees total, citing the need to deal with the firm’s “overcapacity.”
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Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.