Wake Up Call: Perkins Coie Axes 58 Staff Citing Economy, Costs

Welcome to Bloomberg Law’s Wake Up Call, a daily rundown of the top news for lawyers, law firms, and in-house counsel.

• Perkins Coie said it’s laying off 58 business professionals, the latest Big Law firm to shrink its workforce in response to the uncertain economy and sagging demand for legal services. Firmwide Managing Partner Bill Malley blamed the cuts on market conditions, higher costs, and technology taking over certain manual tasks. (Above The Law) (American Lawyer) Perkins Coie earlier this month raised the number of hours associates need to get full bonuses. (BLAW)
• Cravath ...