Biglaw Layoffs News: Proscauer Lays Off 22

‘Stealth’ biglaw layoffs proceed, however some additionally make the information such because the latest layoffs of execs from Proscauer, a agency with gross revenues of $1.2 billion and rating 39 on the AmLaw 100 rankings.

The American Lawyer ballot in September seemed on the largest biglaw corporations and with 63 p.c surveyed, 17 p.c indicated there could be layoffs however many others remaining not sure of what may happen.

Proskauer, in an effort to handle cost-cutting and redundancy points, dismissed 22 enterprise professionals in August, roughly 3 p.c of its enterprise skilled workforce, in response to The American Lawyer.

A tricky financial local weather, mounting competitors amongst biglaw corporations and the general lull in main transactional work has seen corporations take a stocktake on their workers and cut back their numbers.

This motion aligns with a development noticed amongst many massive legislation corporations, which in response to reviews have been quietly making comparable cuts.

The foremost corporations dealing with layoffs are targeted on growing efficiencies, constructing their AI expertise and making larger use of outsourcing with extra use of hybrid enterprise fashions to scale back prices and improve profitability.