Biglaw's Bleak Reality: The Layoffs Have Only Just Begun

The legal profession as we know it is in for a rude awakening.

onMarch 31, 2020 at 3:15 PMMarch 31, 2020 at 2:53 PM

Different firms will make different decisions but everything on the table at many firms. Some will see how revenue plays out. Most are still collecting pre-covid time. April, May and June will get rockier for some firms and they are preparing. (Cont)

— Kent M. Zimmermann (@kentzimmermann) March 30, 2020

Firms with higher profits, scale and profit margins have more runway and room to maneuver than others. Some firms looking at scenarios with very materially reduced revenue for some or all of this year.

— Kent M. Zimmermann (@kentzimmermann) March 30, 2020

(Kent Zimmermann, legal consultant with the Zeughauser Group, offering up a dismal view of what’s to come for the legal profession in light of the ongoing coronavirus crisis. As far as summer associate programs are concerned, Zimmermann went on to say that “[s]ome have canceled, made [an] internal announcement, but have not yet publicly announced the decision.” Click here to see our coverage of the layoffs and salary cuts that have occurred thus far.)

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From Pilot and Above The Law

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.