Wrote about mass layoffs in the accounting profession. At the time, we looked with envy at what was happening in the legal profession. Since most firm growth was through the hiring back of students, once professionally qualified, it seemed that the primary effect of a recession was on the hire backs. The firm’s growth would slow down, but for those who were already in the firm, there was still a future, with opportunities to retool skills to meet changing market demands. Still see this today. Mass layoffs of lawyers is still uncommon. Says something about the value of firm acceptance.
Out, out in the street: