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For those who’re an lawyer who lived via the darkish days of the Nice Recession, you can be forgiven for having flashbacks after studying a recent story by Bloomberg Regulation’s Roy Strom and Meghan Tribe.
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They reported that a number of heavy hitters in Huge Regulation, together with Cooley LLP and Kirkland & Ellis, have laid off attorneys in current months. Different companies are anticipated to observe go well with subsequent 12 months. However additionally they spoke to a number of business watchers who say this isn’t Nice Recession 2.0.
For one, international financial circumstances aren’t as unhealthy—at the least not but. And demand for authorized providers continues to be strong, even when not on the frenzied ranges it was earlier this 12 months and final 12 months.
Tribe joins our weekly authorized information podcast, On The Deserves, to speak about why companies are following a mega-profitable 2021 with layoffs in 2022. We additionally hear from Bloomberg Regulation video producer Macarena Carrizosa about one of many foremost drivers of authorized business volatility—the billable hour—and whether or not transferring to a brand new compensation system is advisable and even attainable.
Do you’ve got suggestions on this episode of [name of your podcast]? Give us a name and go away a voicemail at 703-341-3690.
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