Laid-Off Lawyers and Other Professionals – WSJ.com

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For the first time in history, lawyers are facing wholesale layoffs. Big firms like DLA Piper have had to let go of 150 lawyers at a time, and this is rippling through the industry. In February alone, Goodwin Procter, Holland & Knight, Pillsbury Winthrop Shaw Pittman, and Latham & Watkins have laid off about 325 lawyers, in some cases cutting almost 8% of their attorneys.

What is a laid-off lawyer to do? They principally had their savings in the stock and housing markets, which have been decimated. Unlike many blue-collar and public-sector workers, they have no union protection, limited pensions and suburban-family expenses. And as professionals, they have perfected how to do their narrow job well. But many have little direct business sense or experience.

via Laid-Off Lawyers and Other Professionals – WSJ.com.

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About Gianna Scatchell
Chicago Attorney focusing on Internet Law, cyber security and data breach, online defamation, Internet and social media law, trademark registration and prosecution, and commercial litigation

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