Hi, I will be starting at a V10 in New York City this fall. I will be joining the real estate group that only has around 20-25 lawyers in this office. If a recession comes soon, would a firm make layoffs in practice groups which are so small such as this one (only 25 people) as compared to corporate or lit that have hundreds upon hundreds of associates?
Some people have said because the practice group is so small there likely would not be layoffs in that group. But others have said the opposite. Thoughts?
layoffs question? Forum
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qxfr
- Posts: 25
- Joined: Wed Feb 01, 2017 5:51 am
Re: layoffs question?
This is a weird question. The size of the group will not affect how many layoffs occur. What matters is how profitable the group is in a recession. If the group continues to perform well during a recession, you are safe, but if the group's work dries up, then you are in trouble.
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TheoO
- Posts: 713
- Joined: Sun Aug 31, 2014 1:28 am
Re: layoffs question?
They will layoff whatever dead weight there is, and kill entire practice that isn't generating revenue if they have to. If there's not enough business in the group to hold 25, then it will be sliced to the appropriate number.
