Another Shoe Drops in Legal Sector - Perkins Coie Lays Off 58 Support Staff
It's another dark day in the Big Law niche.
Perkins Coie, as Law.com reports, announced the layoff of 58 business professionals.The internal memo trotted out the usual reasons for positionng and packaging that as a prudent move.
But what continues to really irk both the junior lawyers and the many watchers, especially on professional anonymous networks such as Reddit and Fishbowl, is this: Perkins Coie not only boosted the number of billable hours for full bonus from 1950 to 2,000. It made that apply to this year, although it had been implemented after the year was already underway. Therefore, there are lawyers who will struggle to catch up to where they "should be" in 2023 to earn their full bonus.
Obviously, both staff and lawyers are being squeezed in a number of Big Law firms. Perkins Coie is now among them, probably in a brand-tarnishing way.
Partners are not untouchable. This post on Reddit Big Law flags us that an equity partner at an unnamed law firm was given the boot. It's speculated that other partners or the Executive Committee made that decision.
We can anticipate an escalation of angst among all members of all law firms at all levels.
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