We've held back on posting anything about firm layoffs during these times because, up until now, all we've heard are rumors here and there concerning the occasional "cutback." Well, according to Las Vegas Business Press, it's officially time to start giving this topic some lip service:Layoffs and firm failures are increasingly hitting the valley as attorneys feel the economic downturn's effects. At least nine more Las Vegas lawyers and other legal professionals have quietly received pink slips in recent months as cash-strapped clients walked away from their bills.
The article focuses primarily on Adams & Rocheleau and Smith Forsberg's layoffs/closings, but Bullivant Houser's trimming of its Vegas office is also mentioned. Additionally, over in the forums, we've heard rumblings of possible cuts from Lewis & Roca, Santoro Driggs, and Greenberg Traurig. We can only wonder how successful Boyd's on campus interviews were this past fall.
So, are these cutbacks really a result of the current economic conditions, or are these firms just using the economy to justify cutting loose some dead weight? Many firms in the Valley have instituted hiring freezes, but are these firms just playing it safe? We know of at least one area of law that is loving this climate: bankruptcy.
So, how about it commenters. Is it time to start panicking, or are lawyers in the valley by and large recession-proof? Let us know your thoughts.
We got Harry Reid to slip our firm into the Stimulus Package, last minute earmark, so we should be fine.
ReplyDeleteI don't think law firms are recession proof and I don't think that firm's are using the economic downturn as an excuse to trim off the bad meat. I know of a few very good attorneys who have been laid off due to these tough times. It's sad. These are our colleagues.
ReplyDeleteAlbright Stoddard laid off about four attorneys not too long ago. Hutchison Steffen did as well.
ReplyDeleteI have no idea about Albright, but I think you're wrong about H&S.
ReplyDeleteH&S has not laid off any attorneys. In fact, they recently hired another attorney.
ReplyDeleteWell, now I don't know what to believe!
ReplyDeleteBelieve in Bankruptcy. My office is standing room only.
ReplyDeleteL&R laid off only 1 Vegas associate, and SDWKHT has not laid off any. These are dangerous rumors to be spreading if you don't know your facts.
ReplyDeleteAgree with the previous anon. If you don't have first hand knowledge, don't post it.
ReplyDeleteKKBRF laid off at least 6 today... Developing.
ReplyDeleteI passed the bar this past October and I'm STILL looking for work. Boyd graduate and former Law Review member with 4 years legal experience. Yep, it sucks to be a newly barred attorney...
ReplyDeleteWhat is Boyd? Is that a school?
ReplyDeleteThanks for sharing,,,,,,,,,,,,
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