As US Law Firms continue to cut back legal jobs, the legal market dwindles. The U.S. legal sector has reportedly lost 1,300 jobs in January alone, as widespread cuts across a range of industries pushed the national unemployment rate to 7.6 percent, according to U.S. Department of Labor statistics released Friday. The plunge likely reflected a series of continued cutbacks among several major law firms as a slowdown in clients' business takes its toll on the need for legal work. Read more here.
The most recent to show the door to its attorneys and staffers is Hinshaw & Culbertson LLP. Hinshaw & Culbertson LLP has reportedly handed out pink slips to 11 attorneys and 17 staff members as a cost-cutting measure in tough economic times. The Chicago-based law firm's managing partner, J. William Roberts, said the layoffs were made across the board last week and did not target a particular practice group or office.
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