Last week, it was Block/Square, this week it's Morgan Stanley. 2,500 jobs cut. After a record year. Once again, I'm thankful yo work in a field that doesn't axe folks en masse like this.

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I’m old enough to remember getting Lathamed

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Wasn’t that in reality like 75 people out of like 3,000?

Gunderson would like to have a word.

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Latham fired over 10% of their associates in one go. 2009 was a different time, but come on.

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Fair enough but maybe now is also a similar “different time”

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My sweet summer child

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You are crazy if you think this won’t happen at big law when they are able to implement AI successfully. Look ar how much partners love soaring PPP.

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That’s in part because unlike most other fields, we routinely fire or push people out. Vast majority of jobs out there you can stay in indefinitely. People leave because they choose to. But this job has an expiration date on it from day 1.

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Got it. I think we’re saying exactly the same thing.

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Ever heard of Goodwin?

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We don’t even have to look as far back as 2009. Remember when Hogan laid off a bunch of people in 2020 and then had to go on a hiring spree when the markets picked up again.

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You’re right! Hogan was the one that laid off service staff!

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I guess I could've worded my post more artfully. In the cases of Block and Morgan Stanley, they enacted these cuts after record profits. In the cases of Latham, Goodwin, etc., they did so in the face of a massive recession. So, I think the scenarios are a bit different

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A8, OP is a Partner. Clearly gaslighting people into believing that law firms won’t do this when history shows that they can and will.

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Goodwin and Latham would disagree

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Um, selection bias, you made it to partner

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Guys I don’t want to unnecessarily glaze biglaw but OP isn’t wrong. Even the great Lathaming was, what, a 10% RIF? For the absolute most egregious example. The job security for a good associate in this field is wayyyy higher than in others.

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Also, the firm no-offered nearly half of the summer class that year.

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