I think that the last round of layoffs probably reminded them that it’s really hard to bounce back. If the work picks up, it’s really hard to get those associates back quickly and up to speed.
— John Cashman, president of legal recruiting firm Major, Lindsey & Africa, commenting during an interview with Reuters on whether he thinks Biglaw firms will engage in mass layoffs like they did during the Great Recession if the U.S. goes through another economic downturn. Cashman said that while job growth in the legal sector may slow down, he doesn’t “see the sky falling anytime soon.” According to the U.S. Labor Department, the legal services sector now has more jobs than it did in 2007 when it reached its peak before the Great Recession.
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.