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Hugh A. Simons explores whether the legal industry will experience layoffs in the months ahead, using data to predict which attorney segments may be impacted and at what rates. Simons also explores how firms should handle cuts differently than they did in the Great Recession.
June 01, 2020 at 03:39 PM
1 minute read
Big Law experiences peaks and troughs in demand following the business cycle. But it also undergoes a more pronounced, and less discussed, cyclicality: chunky ups and downs in the number of lawyers it employs. It’s an innate part of the business, and one with implications for what happens next in the COVID-19 recession. We’d do well to prepare ourselves.
Lessons from the recession of 2008-10
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