The Voice of San Diego is out with an article about the impact the economic downturn is having on San Diego’s larger law firms. Nationwide, thousands of lawyers and support staff have been laid off, mainly younger associates that don’t yet have a book of business to sustain their own workload.
Luce Forward laid off 12 San Diego lawyers last month, and Cooley Godward, Paul Hastings, DLA Piper, and Latham & Watkins have all let lawyers go.
While the number of attorneys laid off is dwarfed by firings in other sectors, the law firm layoffs underscore the weakness in the economy because in past recessions, law firms have prospered in the “countercyclical” environment, because business is naturally more contentious when there’s less to share, and because lawyers are necessary to restructure failing corporations.