Friday, March 13, 2009
Even The Lawyers Need Food Stamps Now
Chicago, IL-Powerhouse law firm, Sidley Austin LLP has had to jettison 89 associates and 140 staff members. The law firms are obviously not immune to our economic fee fall.
Many other silk stockings law firms have dumped hundreds of lawyers and other staff members worldwide.
This kind of meltdown was always unthinkable in a society that has been litigating and fighting more contract and property battles than ever. I guess too many companies can no longer afford lawyers.
It looks like we will be seeing some well dressed folks in the breadlines. Hang on folks this is only the beginning.