Big Law - Talk about Layoffs Is Speculation, Not Reality (at least, not yet)

 Horror movies are so popular because it's fun to get scared. And maybe that's the driver of all the speculation about layoffs in Big Law.

According to the consensus on Reddit Big Law, essentially there's no reality to that kind of talk. At least not yet. Here is the thread.

A number of firms are quite busy. So much so that one associate feels so burned out that he entertains a compelling fantasy about getting the ax, hanging around the beach for two months, and then picking up odd jobs until the money runs out. 

Other law firms have slowed down a bit but not enough to stir real angst about a Reduction-in-Force. (Stealth layoffs, of course, could be happening. As one comment pointed out they are always happening.) 

However, what one associate picks up is that there is a push underway "to cut the fat." That opens the door to anything, doesn't it.

Interesting, even in M&A practices which supposedly had been hit hard by the falloff in dealmaking there is enough work. One practice even hired an additional lawyer.

As many know, Paul Weiss has been among the handful of law firms which experienced an actual uptick in M&A work this month. In addition recently it poached two partners from Winston & Strawn for expanded assignments with Goldman Sachs. The chairperson at Paul Weiss Brad Karp is no slouch at bringing in new business.

Now and then on Reddit Big Law there have been references to a law firm being slow. Overall, though, there is the usual preoccupation with pleasing the partners and how to handle a situation when a mistake has been made.

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