Tuesday, August 19, 2008

More on Chicago BigLaw layoffs, delayed starts, etc.

Crain's is reporting cutbacks at Chicago BigLaw of varying types. This story focuses on delayed starts for new hires (including at DLA, Sonnenschein and Seyfarth) but also gets into matters we've discussed here before, such as layoffs, partner deequitizations and the like. And finally, there's the obligatory story of a recent law grad who can't find a job.

Other than SNR's announced layoffs, what I did not see here was any discussion of some BigLaw stealth layoffs that have been rumored at some sites such as Above The Law. Even if the rumors are true the numbers may not be compelling enough to bring up in the story. But I'm a curious type who likes to know about these things. But even though everyone keeps predicting the demise of BigLaw, I call BS. Restructuring, yes. Finley Kumble, not yet. But if anything I think we'll see more and more consolidation.

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