Biglaw Firms May Have An Especially Tough Year In 2023
Yikes. If you thought 2022, was bad, just wait....
Ed. note: Welcome to our daily feature, Quote of the Day.
I think what the economy is responding to is uncertainty. The less uncertainty, the better a lot of transactional practices perform. And I think with law firms this year, it is going to be the most challenging year in many years.
— Kent Zimmermann, legal consultant at Zeughauser Group, in comments given to the American Lawyer, on what Biglaw firms have ahead of them in 2023, compared to the rough ride that many already faced in 2022. Quite a few Biglaw firms have already conducted layoffs this year, while others are deferring incoming associate classes.
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.
