<a href= Law Jobs Pipeline Blog More layoffs at Cadwalader’s shows the continuation of the credit crunch for law firms in the States (and elsewhere). The fact is, a great chunk of work – mortgage-backed securities – has evaporated and firms like Cadwaladers and others are not facing just a short term ‘blip’, but rather a major shakeout in their workbase.
All this is something of a turnaround for the NY-based firm, following an upbeat (if that’s the word) interview with the firm’s CEO just a year ago, where he said the firm’s growth was thoroughly sustainable “short of some cataclysmic event that hits everyone else too.”
Well, the event was the credit crunch, we guess and Cadwaladers are laying off a further 96 lawyers in the States and London, following an earlier round of 35 they released in January.
