Ed. observe: Welcome to our day by day characteristic, Quote of the Day.
Massive Legislation was desperate to throw our bodies on the burgeoning financial system not way back. They had been ok to do the work as soon as upon a time, however when the financial system modified, they’re not. There’s the perspective in massive corporations that we don’t owe them something; we pay them effectively. [T]hey’re afraid to say that they’re frightened about their falling PPPs, as a result of it’d mirror that they’re simply grasping and never keen to hold individuals by way of a troublesome interval.
— Steven Harper, a former Kirkland & Ellis companion who writes concerning the authorized occupation, in feedback given to Vivia Chen of Bloomberg Legislation in regards to the current spate of stealth layoffs which have been taking place throughout elite Biglaw corporations. A number of corporations, like Kirkland & Ellis and Ropes & Grey, have claimed that their job cuts had been performance-based, which Harper says is a “pink herring.” Keith Wetmore, who as soon as served as chair of Morrison & Foerster and is now a managing director at recruiting agency Main, Lindsey & Africa, suggested that with regards to layoffs, “[t]he well mannered factor to do is to say that legal professionals have been let go, together with some very robust performers.”
Staci Zaretsky is a senior editor at Above the Legislation, the place she’s labored since 2011. She’d love to listen to from you, so please be at liberty to electronic mail her with any suggestions, questions, feedback, or critiques. You possibly can observe her on Twitter or join along with her on LinkedIn.
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