{ "media_type": "text", "post_content": "If a firm (for e.g. PwC with MF Global) loses a pending law suit, are layoffs inevitable?", "post_id": "58c6146d3727f2001671dc36", "reply_count": 5, "vote_count": 1, "bowl_id": "552d1d24dc1c586b09d2d051", "bowl_name": "Consulting" }

If a firm (for e.g. PwC with MF Global) loses a pending law suit, are layoffs inevitable?

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If it goes to judgement (unlikely) at the reported amount $3b, that would be catastrophic for a thinly capitalized partnership and would most likely include reduction in staff in addition to disposition of assets and probably entire service lines. But most likely they'll settle, but even then, it would most likely include a reining in of expenses from all areas of the firm.

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Yes. Operating costs will be cut with a layoff of nonutilized workforce.

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Don't firms have malpractice insurance for this?

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Thanks M1. Do you think such layoffs are specific to the practice( involved in the law suit) or company wide?

Haha I said 'most likely' three times.

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