In a clear indication of fiscal tightening within the legal sector, Proskauer Rose made the decision to cut over 20 business professionals from its workforce in August. This move is seen as part of an ongoing industry trend, where law firms, even amid a wave of salary rises for associate ranks, have been paring their payrolls throughout 2023.
Proskauer’s downsizing saw 22 of its business professionals, reportedly about 3% of the firm’s business professional population, let go. The layoffs were implemented as part of a broader effort focusing on cost-cutting and redundancy issues. However, a spokesperson for Proskauer Rose did not provide a comment on this matter prior to the time of publication.
More detail about the firm’s actions and its contextual environment can be found here. The scenario that unfolded at Proskauer Rose is representative of an efficiency-driven trend prevalent across larger law firms in 2023. The drive has been towards productivity and outsourcing in response to a year marred by declining demand, leading to both staff and associate reductions.