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It appears that every major legal industry analyst is sounding the alarm on the impact of the impending economic downturn on the sector. This is not surprising given recent reports of associate layoffs at Cooley LLP, Goodwin, Shearman, Sterling, Gunderson, and Kirkland.
Adding to the list, Procopio, a top Biglaw firm with gross revenue of $128,919,000 in 2021 and ranked 194th on the Am Law 200, has recently announced a "reduction in force," involving the termination of both attorneys and support staff as part of its cost-cutting measures.
As stated in an internal email from the firm:
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