The pace of layoffs at U.S. law firms slowed in May, according to the Law Shucks blog. Despite the decline, total layoffs at law firms for 2009 have topped 10,000. About 38% of those let go are attorneys.
The blog also reports on firms that have announced pay cuts to cope with business declines. Firms also have deferred or rescinded offers to first-year associates to trim costs. Opinions vary on which if any new business approaches by law firms will become permanent.
For a look at how reporting has been affected by the economic downturn, see "The Recession, the Legal Scene, and Court Reporting" in the July/August JCR, in the mail the week of June 22.