Lack of available billable hours leads to some layoffs at Cooley.
Not all recent associate layoffs have been due to poor performance reviews.
Some capital markets and venture capital associates were laid off at Cooley’s Bay Area and New York offices because there was not enough work for them.
Law firms must walk a fine line when ramping up and hiring talent to meet client demands during the boom times while being careful not to over-hire and create excess capacity for when the market cools.
It’s more art than science.