Ed. note: Welcome to our daily feature, Quote of the Day.
Basic economic uncertainties that are causing the anxiety in leaders of law firms are still there. It seems to me that this is kind of a continuation of what we’ve seen for the last several weeks. There hasn’t been anything dramatic that’s turned it around, so I think we’re still kind of in a wait-and-see environment. Obviously some sectors are doing better than others, but I don’t think we’ve had anything like an across-the-board recovery at this point.
— Jim Jones, a senior fellow at the Georgetown Center for the Study of the Legal Profession, in comments given to the American Lawyer on the latest round of stealth layoffs at Kirkland & Ellis. Jones said he’s “not surprised” that layoffs have continued into the second quarter of 2023, especially in California’s tech sector (a state where some of Kirkland’s cuts took place).
Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.