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I was on a call yesterday with our firm leadership. We talked about everything from summer clerks two people scheduled to start in the fall to current associates and staff. If current projections and trends hold, we are literally months away from any sort of reduction in pay, hours, or staff. But that could all change if our clients don’t pay the bills we just sent out for March, which was actually a fairly strong billing month for the firm. or if the work we think we have for the month of April dries up. Understanding the anxiety that many associates and staff members have, it’s important to remember the extremely uncertain situation facing management, which makes it hard to be “transparent.“ There is also a practical concern. If a firm says today “we aren’t sure but we may have to make changes in the future,” any associate who isn’t already freaked out will start hyperventilating. and if the firm says “we feel good and don’t anticipate changes,” but then faces changed circumstances, the firm will be accused of lying or misleading associates. Communications, in any fraught and unstable situation, is really, really challenging, and is often literally a no win situation.
In the meantime what you can do is work hard, preserve your cash, and focus on controlling what you can control.
Sorry to hear this. I think they’re most likely inevitable. Start refreshing your resume. Maybe start making connections with headhunters and see what’s out there in general?