Law Firm Job Cuts Continue - Closer To Home Too

Law Firm Job Cuts Continue - Closer To Home Too
LawFuel - The Law Jobs and News Wire
Firms are looking at more creative ways to weather the recession
Law firm job cuts are now becoming law firm salary cuts as US and UK multinationals look at more creative ways of dealing with the economic crisis by doing things like cutting their salary caps for associates, reducing or altering recruitment plans, cutting partner pay and other tactics.

Meanwhile, the now well-worn path of job cuts continues, with Clifford Chance releasing 24 of its New York associates in a second round of job cuts and major US firm Decherts announced that they were releasing 125 people, including 63 lawyers. The Dechert cuts affects the firms worldwide offices.

The law employment scene in London remains grim with major job losses still forecast, including legal, administrative and secretarial staff.

A poll by legal magazine Legal Week found almost 100 per cent of senior partners believing that support staff should be targeted for cuts, along with associates. Cuts of up to 20 per cent were predicted in the poll.

In the United States, where cuts have often been savage in recent weeks, firms including Dewey & LeBoeuf, Fried Frank, Edwards Angell, Katten Muchin and King & Spalding have all been making or contemplating job cuts. Dewey & LeBoeuf has cut the pay of nearly 70 US partners by 80 per cent, putting them on $10,000 a month.

However, closer to home there have also been cuts with cuts at Blake Dawson in Australia, who laid off 89 staff and HWL Ebsworth, which cut 17 staff. DLA Phillips Fox in New Zealand have released staff and other firms are believed to be working on cuts or arrangements to reduce working hours or remuneration.

Even in India, which has been somewhat recession-proof with the upsurge in legal outsourcing work, the to firms are dramatically scaling back their recruitment plans with lawyers seeking nonprofit jobs, clerkships and outsourcing positions.

ENDS

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