While there’s no certainty about the number of more Big Law practice will minimize their labor force in action to a decline in need, current layoffs at Reed Smith and Dechert expose that more companies than simply those with a Silicon Valley transactional focus are dealing with capability restrictions.
Layoffs at Pittsburgh-born Reed Smith came prior to a 6% decrease in force at Orrick Herrington & & Sutcliffe, combined with deferments for its class of 2023 partners. In the spring, Cooley, Fenwick & & West and Gunderson Dettmer Stough Villeneuve Franklin & & Hachigian likewise revealed deferments. On the other hand, Dechert stated in mid-May that it would minimize its labor force by about 5%. All of the reported layoffs affected both attorneys and personnel.