My sense is that the worst is over, although I’m not suggesting there wouldn’t be more cuts three to six months down the road in response to a continued economic downturn.
— Alan Stone of Boston-area Stone Legal Recruiting, in comments given to the American Lawyer, on Goodwin Procter’s recent round of layoffs, made in response to the firm’s overcapacity considering the current economic climate. The firm has seen historic associate turnover since 2020, hiring more than 600 attorneys while losing almost 400 before January’s layoffs.
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.