Reply to Anyone in biglaw get a pay cut?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Do these firms think no one notices that they have not even given this sufficient time to determine whether there is an actual downturn in their business?

What other businesses that have remained open and operational have instituted paycuts and layoffs? Are they that risk adverse that they cut everyone based on what might happen?[/quote]

You kind of need to get a clue.  Clients are vanishing and blowing up.  The whole country is becoming impoverished and unemployed . . . so yeah, there is going to be price pressure on lawyers and massive layoffs.[/quote]

If the firms are requiring contemporaneous entry of billable hours, they can track pretty much in real time how much their revenues are falling off.  And I think they are falling of quite a bit already, and most people realize that there's going to be a long term impact as the clients go belly up.  [/quote]

Maybe.  Some clients are cutting outside legal budget like crazy right now, but aren't necessarily "blowing up."  Clients who use big law firms aren't likely skating close to the financial edge.  They are likely preserving capital, postponing acquisitions, etc...[/quote]

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