OK guys, here’s your Schadenfreude Pick of the Week…
From the New York Times:
Now Mr. Verrier, who had worked exclusively at the century-old firm since leaving Harvard Law School in 1982, sat in his office high above 44th Street and Avenue of the Americas, considering the e-mail message he was about to send. It announced that 200 more lawyers would lose their jobs, nearly 1 in 10 at the firm over all — and not just young associates with everything in front of them, but some million-dollar-a-year ones like himself, the ones with twin mortgages, kids in private school and no Plan B.
So even those in the most overpaid field in New York (corporate law) may get a taste of the sour cream & suffering chips we’ve all been snacking on lately?
OMG, I’m gonna cry like a baby.
Less business means less people suing each other, big f@ckin’ shock. Less contracts, less compensation, less business formation etc. Deal with it.
In a world where there are more people in law school than there are actual lawyers, you knew it would only be a matter of time.
Full Story: Why Major Law Firms are Shrinking (NYT)