Will Tech-Focused Biglaw Firms Be Forced To Conduct Layoffs This Year?

// Ed. note: Welcome to our daily feature, Quote of the Day.

I don’t think any bubble has burst. The work will return, but it may not be coming simply fast enough for these firms to keep up, especially with the pay raises that were given.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-top-300x250" ); });

— Kate Reder Sheikh, a California legal recruiter for Major, Lindsey & Africa, in comments given to Bloomberg Law on the recent layoffs announced by Fenwick & West. She named several reasons why Fenwick may be having difficulties, ranging from how interest rates are affecting venture work, overhiring, and associate salary raises. Reder Sheikh went on to note that tech-focused firms that didn’t announce layoffs last year “unfortunately have good odds of having to do them in 2024.”

Sponsored Lexis+ AI™ And The Power Of Good Data A leader behind Lexis+ AI™ speaks on what sets LexisNexis’ artificial intelligence and machine learning products apart from the crowd. From Ethan Beberness  

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 and Threads or connect with her on LinkedIn.

googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-middle-300x250" ); }); googletag.cmd.push( function() { // Display ad. googletag.display( "div-id-for-bottom-300x250" ); }); Sponsored Sponsored Ontra’s Insight, Powered By GPT-4, Simplifies Fund Management From Ethan Beberness   Sponsored Lexis+ AI™ And The Power Of Good Data A leader behind Lexis+ AI™ speaks on what sets LexisNexis’ artificial intelligence and machine learning products apart from the crowd. From Ethan Beberness   Sponsored Are You Making A Good Impression On Your Clients? Over 1,000 legal services recipients share their perceptions of their lawyers in this new report. From InfoTrack and Above The Law   Sponsored How You Can Use Tech To Strengthen Client Ties Many law firms are falling short. Here’s how you can avoid being one of them.  From THOMSON REUTERS AND ABOVE THE LAW   Sponsored Revolutionizing Legal Talent Acquisition With AI: The haistack.ai Advantage Transform your legal recruitment with haistack.ai's AI-driven platform for unmatched efficiency and precision. Schedule your demo today. From Lateral Link   Sponsored Ontra’s Insight, Powered By GPT-4, Simplifies Fund Management From Ethan Beberness   Enter your email address to sign up for ATL's Layoff Alerts. hbspt.forms.create({ css: '', portalId: '470182', formId: 'a36cdf6b-a5b0-4a87-9125-aaf8c7d90fd6' }); Topics

Biglaw, Layoffs, Quote of the Day