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I think it’s quite possible, and maybe even likely. If you look at the economics, firms are in a tight squeeze in terms of their expense ratios.
— Jim Jones, author of the 2023 Report on the State of the Legal Market by the Thomson Reuters Institute and the Center of Ethics and the Legal Profession at Georgetown Law, predicting in an interview with Reuters that more layoffs are to come this year. The report suggests that law firms will face a particularly challenging time in 2023, with lawyer productivity at a more than 20-year low.
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.
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