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Law.com - Legal Sector Lost 1,300 Jobs in January

In the "more bad news for paralegals" category, 1,300 legal jobs were slashed in January alone. In the past three months, 14,500 legal jobs were cut.

As grimly reported by the Am Law Daily, layoff announcements were rampant at law firms across the country in January. Morrison & Foerster cut 201 jobs, Cooley Godward Kronish axed 114, and Akin Gump Strauss Hauer & Feld shed 65.
Other firms to announce job cuts last month included Blank Rome, Wilson Sonsini Goodrich & Rosati, Foley Hoag, Fish & Richardson, and McDermott, Will & Emery. Recruiters on both the East and West coasts report that associate hiring at law firms has largely stopped, and firms are now mostly targeting partners with portable books of business.

As if that weren't dismal enough, the 1,300 figure is "seasonally adjusted." Otherwise, the legal sector would have lost 3,100 jobs in January.

Law.com - Legal Sector Lost 1,300 Jobs in January

Full post as published by A Paralegal's Blog on February 08, 2009 (boomark / email).