https://www.law.com/americanlawyer/2023/02/10/big-law-layoffs-may-continue-in-light-of-uncertainty-lying-in-wait/
(Credit: NOBUHIRO ASADA/Shutterstock.com)ANALYSIS
Shearman and Davis Wright’s layoffs are “not going to be the end of the story,” said Georgetown’s Jim Jones.
February 10, 2023 at 05:00 AM
5 minute read
What You Need to Know
- Another round of layoffs at a couple Am Law 100 firms this week suggests firm leaders will continue to face difficult decisions in 2023.
- Firm leaders are trying to increase profitability even as demand softens.
- Many firms are also stuck in limbo due to economic uncertainty.
Layoffs this week on both coasts have again unsettled Big Law, and analysts say the “difficult decisions” at law firms are probably not over yet this year, especially if the economy experienced more turmoil in 2023.
Both New York-based Shearman & Sterling and Seattle-based Davis Wright Tremaine are the latest to make waves in the legal industry, joining the list of law firms making personnel cuts to start 2023 and citing a need to realign capacity with existing and projected demand.
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