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Subject Expert
OP, many firms are active in the lateral market right now, but the targets either have portable work or work in a busy practice area like bankruptcy, restructuring, or certain active niches like healthcare and legislative work. If you check one or more of those boxes you might well find opportunities right now.
Yep either portables or a meaningful client connection - need to show you can bring clients, have client contacts with tangible potential to bring business, or can expand existing client work.
Definitely. No one wanted to be the first to admit they needed to do layoffs.
Subject Expert
Maybe. Can’t help but feel at least in this initial round of layoffs low performers and possibly fungible juniors will be the first to be let go
I'm not sure fungible juniors are easier to let go of than underoerforming mudlevels. seems like the theory is one can more cheaply replace the other.
Bake McKenzie is also a McDonald’s big law firm - literally the biggest I think. They have people to spare I’m sure. Other Am Law 100 firms are leaner and may be managed better financially. Several firms are reducing cuts and paying back earlier cuts. So it’ll probably be a mixed bag.
Can’t tell what the general lay of the land is since so many other firms are now rolling back their initial payouts. I’m asking cause I’m wondering if it’s a good time to try to go back to private practice or stay in house.
Jesus had they previously done lay offs so this is round 2 or is this their first round?
Are these layoffs targeted at specific practice groups? In other words, are some practice groups thriving while others are being slashed?
Yep
I have no doubt that firms have been pushing people out at an accelerated rate ever since Covid hit, at least in impacted practice areas (in fact, I know some individuals who were impacted). Abovethelaw has posted about this a little bit. Whether any follow Baker's lead and make the layoffs public, who knows, but it's certainly happening.
Yep
Subject Expert
You’re not laying me off are you?