Goodwin Procter layed off 21 second-year associates from its Business Law practice group today, most from its Boston office.
The firm sent out a remarkably open memo, noting that prior actions they took to manage the “slow economic recovery” were not enough and that the firm remained at “overcapacity” for the amount of work they have.
Above the Law broke the news and has a copy of the full memo.
Unfortunately, a source told ATL that men and women were crying in the halls. There may be no tears in bseball, but there certainly could be tears in losing your job.
What’s interesting about this announcement is how focused the layoffs are — Goodwin has already cut its future incoming classes and had kept this group around, the memo says, in hopes that as they transitioned from first years to second years the market would pick up.
The upshot of this announcement, if there can be one, is that it sounds like older associates may be safe for a time being, at least. Reducing numbers in a way that will allow the associates there to stay busy will hopefully be good in the long run.
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