It’s a new day, but outside the pandemic still rages. COVID-19 has brought radical changes to our day-to-day lives and uncertainty reigns supreme. Beyond the downright scary health implications the virus has brought, the financial impact has been severe. Unemployment has skyrocketed and Biglaw is not immune from the trend.
We’ve been tracking exactly how the economic downturn is impacting the legal industry, and, unfortunately, we don’t expect the cost-cutting measures to end anytime soon. And yes, that means we have more to report.
Blank Rome is the latest firm on the furlough bandwagon. A firm spokesperson confirmed that, “Like many firms, in response to these unprecedented times we are looking at proactive measures to address the ongoing business and financial impact of COVID-19.” And as a result, the firm has “furloughed a small number of support staff.” But they clarify, “No attorneys have been furloughed.”
While that’s good news for attorneys at the firm, it must really suck for however many staff members are now shouldering the load of the firm’s COVID-19 austerity.
If your firm or organization is slashing salaries, closing its doors, or reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).
If you’d like to sign up for ATL’s Layoff Alerts, please scroll down and enter your email address in the box below this post. If you previously signed up for the layoff alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each layoff, salary cut, or furlough announcement that we publish.
Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).