I’m on record predicting MASSIVE lay offs across #biglaw before the end of the year.
That sounded outlandish 3 months ago when I called it, but now a ton of stories have come out confirming that #biglaw is suffering a massive slow down with profits dropping huge.
Who could have seen that coming. Turns out you can only treat clients badly for so long before the other shoe starts to drop. Especially when tons of viable alternatives now exist–true expertise exists less and less in hollowed-out big law practice groups and more and more at adaptable and innovative shops like Troutman Firm. (The one with the Czar, not the one with no Troutmans.)
And now, predictably, the firms are discussing “right sizing” and looking around at which associates will be cut first. But I don’t have to tell #biglaw associates that their firms don’t care about them and will gladly cut them to save a buck. They already know it. :’)
No wonder I’ve turned down FIVE (5) AmLaw 100 law firms since I started Troutman Firm.
ZERO percent chance I head back to the profiteering world of big law. No way. No how.
Law is a profession. Not a business. When you look to maximize profits off of your clients YOU ARE IN A CONFLICT OF INTEREST WITH THEM. Period.
Seek a reasonable fee for valuable work. Pay your employees well and take care of clients and staff alike through thick and thin.
Relatedly, we’re still hiring. And I have NEVER laid off a single lawyer in my entire career. Sure we just added Tori but we need another 3 or so lawyers by the end of the year. Think you have what it takes? (Or know someone who does?)
As I’ve said, once the layoffs come I WONT be rescuing any big law rejects. No interest in that. I want top performers who leave WISELY AND VOLUNTARILY (or the ones who never went to #biglaw to begin with). Not the ones who get kicked to the curb as soon as profits started to drop.
Will be tough to tell the difference in a couple of months BTW. A lot of firms aren’t going to survive the next calendar year. It will be BLOODY. So, last chance for all those big law types that are thinking about jumping over to something SOLID to make their move. 🙂