Brutal Week May Not Be the End of Law Firm Layoffs

By the close of business on Friday the 13th, more than 1,100 lawyers and staff in the U.S. had been fired or asked to consider buyouts. Why so much pain in one week? Several theories are making the rounds, including the rocky reception of the federal stimulus package and the already grim balance sheets for 2009. Unfortunately, more bad news may be on the way. One consultant says last week’s layoffs will accelerate other firms’ decision to lay people off, and law firm leaders aren’t offering much encouragement. Read on…