Bloodletting in BigLaw (or, Lawyers are People, Too)

I understand that it can be hard sometimes to find sympathy for corporate lawyers, but waves upon waves of layoffs have rocked major law firms the past two weeks, with today bringing news of Latham and Watkins laying off 440 employees (190 associates, 250 staff), making it the largest layoff of its kind, according to industry blog Above the Law. The severance package is sizeable, to say the least, but the sheer size of the cuts--12% of associates, 10% of staff-- is eye-opening.  

One of the interesting trends that surfaces in this cut is the firm extending stipends for incoming associates to defer starting with the firm and work for community service organizations during the "gap year" in between 3L and the first year on the job.  Given the dire situation facing legal aid organizations and public defenders, one hopes that, if there is a silver lining to this recession, it's a renewed commitment to providing legal aid to those most in need.