In his Bloomberg column this week, David Lat explores whether or not making or refusing to make offers with Trump has affected attrition at 14 law firms targeted by the president.
Armed with knowledge from SurePoint Authorized Insights about adjustments in headcount during the last six months, Lat concludes that “the Trump offers is perhaps affecting, however not basically altering, legislation corporations’ general trajectories.”
Whether or not coincidence or trigger and impact, or some mixture thereof, a couple of stats are value highlighting:
- On common, Am Regulation 100 corporations noticed attrition of -1.7%
- The 5 corporations subjected to govt orders that didn’t capitulate averaged a 2.8% decline in headcount
- The 9 corporations that made offers with Trump averaged a 4.9% drop
- Two corporations that reduce offers — A&O Shearman and Cadwalader — had the steepest declines (-10% and -11%, respectively)
- The one two corporations whose headcount elevated additionally settled (Milbank expanded by 5% and Simpson Thacher by 2%)
- Perkins Coie, which is combating the EO, shrank by 8% — the identical attrition fee as Paul, Weiss and Skadden, the primary two corporations to chop offers
- Covington and Jenner & Block, neither of which settled, mainly broke even
Trump Deals Coincide With Attrition at Some—but Not All—Firms [Bloomberg Law]
