Thursday, March 26, 2009
Bose Lays Off 25
You know things are really getting tough when the City's largest law firms are all announcing layoffs. Today's news that Bose McKinney & Evans is laying off 25 employees I believe is the first announcement among the big firms that includes the layoff of attorneys. "Bose McKinney & Evans LLP, the city's fifth-largest law firm, announced this morning that it is cutting 25 employees, including 10 lawyers, two paralegals and 13 staff people," the IBJ reports. This follows 11 support jobs the firm cut in January. I don't think people are being laid off at the big firms for lack of work; rather, cash flow is tight with so many clients being unable to pay their bills like they had been able to do in the past. This is forcing the firms to look for greater efficiency.
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Yet every year the state's law schools graduate about 600 more future lawyers who will find few jobs available to them. I've always said that's a lawsuit that needs to be filed. Law schools deliberately misrepresent salaries and job opportunities to lure students in only to find out when they graduate how poor the attorney job market really is.
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