The economic downturn has led to stealth layoffs among corporate practices in Biglaw, hitting even some of the most successful law firms. This trend continues with the recent news of layoffs at Gunderson Dettmer.
According to reports from the American Lawyer, Silicon Valley law firm Gunderson Dettmer has made two rounds of layoffs due to a slowdown in work. The firm, known for its technology industry expertise, delayed its new associates’ start date until January 2023. It subsequently cut a group of associates in its New York and Bay Area offices in September and November 2022. According to sources in contact with affected individuals, the layoffs affected ten associates in late September and about 20 more last November. Many of the associates recently let go were onboarded in recent years’ rush to hire corporate lawyers, only to be let go shortly after joining the firm.
Sources said that those who were let go had previously received glowing reviews, but their hours dropped significantly due to the implosion within the tech industry. Some Gunderson associates reportedly billed as little as 10 hours last month. This news raises concerns about potential similar layoffs at other tech-focused corporate firms.