Friday, February 13, 2009

800 Law Firm Jobs Lost Yesterday

Yesterday, 800 people returned home jobless from eight different law firms across the United States. The one firm not previously reported is Cozen O'Connor, axing 61 staff members and no lawyers.

Predictions are dire for law firms, and layoffs are likely to continue. Firms have cited an unprecedented downturn in demand as the reason for layoffs.

"It is now apparent that this downturn will be deeper and broader than past recessions, and all business sectors will be adversely affected in some way," Goodwin Procter Chairwoman Regina Pisa wrote in a memo announcing that the firm would lay off 38 associates and 36 staff, about a 4 percent reduction.


(Source: Law.com)

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