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Law Firm Associate Reductions...

By Dan Markel, Ethan Leib, Rick Garnett, Matt Bodie, Paul Horwitz , Steve Vladeck, and Orly Lobel

More bad news for big law firm associates.... Law firms have been hit hard by the economic downturn (along everyone else). It's at least clear that the legal industry is weathering its most significant upheaval since the dot-com implosion in the late 1990s. The U.S. Bureau of Labor Statistics recently reported that the legal services industry in the United States lost 1,300 jobs in January alone. The tallies in the last few weeks, however, seem stark compared with the January figures. Last week, Latham & Watkins garnered significant attention for shaving almost 200 attorneys from its associate ranks (about 10%)....

Full post as published by Prawfs on March 05, 2009 (boomark / email).