Everyone in legal circles knows every detail of the layoffs and delayed start dates at Latham & Watkins. And everyone, reports Amanda Royal in THE RECORDER, is opining about what messages Latham might be sending about the global economy and future opportunity in the profession of law.
None of those messages are pretty. They could communicate a long-term downturn. Since Latham is a global firm, they also might indicate the scope of the downturn which is worldwide. They also should lead a reasonable young person to reconsider a career in the legal profession. In addition, there is the question for law schools which aren't among the top 14: Should you even be in existence as the profession seems to be contracting?
There's no way to put a rosy spin on all this. Royal quotes some who try. For instance, one head hunter opines this is a great opportunity for the displaced Latham lawyers to take their $100,000 in severance and re-think their career path.
But, come on, those displaced lawyers would much prefer to have a place at Latham than the option to start all over again. From experience, I know: Getting canned is never a blessing and I never perceived it as such. We get through it. We might turn the lemon into lemonade. But it's horrific. We join the Latham laid-off in mourning this loss.
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