In his Bloomberg column this week, David Lat explores whether making or refusing to make deals with Trump has affected attrition at 14 law firms targeted by the president.
Armed with data from SurePoint Legal Insights about changes in headcount over the last six months, Lat concludes that “the Trump deals might be affecting, but not fundamentally altering, law firms’ overall trajectories.”
Whether coincidence or cause and effect, or some combination thereof, a few stats are worth highlighting:
- On average, Am Law 100 firms saw attrition of -1.7%
- The five firms subjected to executive orders that did not capitulate averaged a 2.8% decline in headcount
- The nine firms that made deals with Trump averaged a 4.9% drop
- Two firms that cut deals — A&O Shearman and Cadwalader — had the steepest declines (-10% and -11%, respectively)
- The only two firms whose headcount increased also settled (Milbank expanded by 5% and Simpson Thacher by 2%)
- Perkins Coie, which is fighting the EO, shrank by 8% — the same attrition rate as Paul, Weiss and Skadden, the first two firms to cut deals
- Covington and Jenner & Block, neither of which settled, basically broke even
Trump Deals Coincide With Attrition at Some—but Not All—Firms [Bloomberg Law]
The post Stat(s) Of The Week: Cause Or Coincidence? appeared first on Above the Law.
In his Bloomberg column this week, David Lat explores whether making or refusing to make deals with Trump has affected attrition at 14 law firms targeted by the president.
Armed with data from SurePoint Legal Insights about changes in headcount over the last six months, Lat concludes that “the Trump deals might be affecting, but not fundamentally altering, law firms’ overall trajectories.”
Whether coincidence or cause and effect, or some combination thereof, a few stats are worth highlighting:
- On average, Am Law 100 firms saw attrition of -1.7%
- The five firms subjected to executive orders that did not capitulate averaged a 2.8% decline in headcount
- The nine firms that made deals with Trump averaged a 4.9% drop
- Two firms that cut deals — A&O Shearman and Cadwalader — had the steepest declines (-10% and -11%, respectively)
- The only two firms whose headcount increased also settled (Milbank expanded by 5% and Simpson Thacher by 2%)
- Perkins Coie, which is fighting the EO, shrank by 8% — the same attrition rate as Paul, Weiss and Skadden, the first two firms to cut deals
- Covington and Jenner & Block, neither of which settled, basically broke even
Trump Deals Coincide With Attrition at Some—but Not All—Firms [Bloomberg Law]
The post Stat(s) Of The Week: Cause Or Coincidence? appeared first on Above the Law.
