Lawyer Layoffs Are Not Shameful

It's always been a mystery to me. When a Fortune 500 company lays off 5000 people its considered a restructuring and their stock price goes up. But, when a law firm gets rid of 20 unproductive partners they are seen as in "really big trouble". Why should that be the case? Why aren't law firms allowed to restructure and make sound business decisions without getting beaten over the head by the media and others. I'll tell you why. It's mostly because law firms try to hide what they are doing because the profession has always been ashamed to admit that their business goes through up and down cycles just like any other large enterprise. As a result the media jumps on the opportunity to point out the trouble that the firm is having. On the other hand, if the law firm was more forthcoming all of the time the media might just take the downsizing or restructuring news in stride as part of the business downturn we are all currently experiencing. Another reason for the negative attention, lawyers are seen as part of the problem and not part of the solution and that fix is going to take a long time to take hold.