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https://p.turbosquid.com/ts-thumb/QW/nmIusF/Gw/r_c/png/1665377326/600x600/fit_q87/c993e14b467c3a1794f783ec4852ba0fee53fba9/r_c.jpgShearman has laid off 38 employees, including associates and business services professionals
Other law firms to reduce headcount include Davis Wright Tremaine, Goodwin and Cooley
By Sara Merken
(Reuters) - New York-founded law firm Shearman & Sterling said Wednesday it has laid off attorneys and business professionals, citing a need to "align our capacity levels with existing client demands."
Shearman cut 12 associates and 26 business services professionals in the United States, in what a firm spokesperson described as a response to "continuing and growing economic headwinds and market conditions."
The layoffs follow similar moves by a handful of other large U.S.

law firms amid cooling client demand for legal services, especially for work involving corporate deals.
The cuts at Shearman, Lawyer istanbul which has about 850 lawyers globally, "focused mainly on transactional practice areas most affected by current and projected market conditions," the firm said.
Seattle-founded law firm Davis Wright Tremaine laid off 21 professional staff this week in areas the firm "either had excess capacity or redundancy and misalignment," according to a Tuesday statement from its managing partner Scott MacCormack.

The cuts there did not include any lawyers, a spokesperson said.
Other law firms that have trimmed their lawyer and professional ranks in recent months also cited staffing levels that outmatched demand, Lawyer istanbul including Goodwin Procter, Cooley and Stroock & Stroock & Lavan.
Law firms surveyed by Wells Fargo's Legal Specialty Group reported a 1.9% drop in demand in 2022.

Lawyer headcount was up 4.5% after firms kept on most of the attorneys they hired in 2021 and Lawyer istanbul early 2022 to handle surging M&A work at the time, the report said If you liked this write-up and you would like to acquire a lot more data regarding Lawyer istanbul kindly pay a visit to our own page. .


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