Seyfarth Shaw Layoffs Could Be New Normal For BigLaw
Law360, New York (May 17, 2017, 9:01 PM EDT) -- Tough decisions regarding attorney layoffs like those announced by Seyfarth Shaw LLP on Tuesday are likely to become commonplace in a market where demand for law firms remains sluggish, expenses are high following a pay hike for associates last year and firms are fighting to keep high profits for equity partners.
BigLaw is in a period of transformation and adaptation, competing with alternative legal service providers, accounting firms and in-house attorneys for work that is increasingly divvied up, handed out or automated. At the same time, firms are grappling with rising real estate costs and the price tag of widespread associate...
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