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Today's layoff report
By adamg on Thu, 01/29/2009 - 11:46am
Comes to us courtesy of Mass. High Tech, which reports:
- Analogic to lose 140 jobs
- Boston materials firm Cabot cuts jobs, closes sites
- Sepracor slashes 530 jobs, reports profit jump in '08 (they make Lunesta, you'd think people would be having more trouble getting to sleep these days, no?)
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the experts weigh in
One of the most sobering assessments about the economy that I've read lately comes from this series of five essays by economists who forecasted the current crisis well before the market tanked last fall: http://www.foreignpolicy.com/story/cms.php?story_i....
The pieces are in Foreign Policy magazine, but they are quite relevant to the regional and national scenes. Nouriel Roubini's article is the one to read if you have time for only one.
dot bomb era
Was reminded of that 2000 era website f***edcompany.com. Itself seems have to gone titsup.
Late addition to the list
The Boston Business Journal reports that Ropes & Gray, a large law firm, is laying off 106.
staff cuts
According to the BBJ article, they're laying off support staff. So, it appears that instead of asking their richly compensated attorneys to take a modest pay cut, they're tossing their lower-paid staff workers under the bus of this economy.
Law firm lays off both lawyers and staffers
Today the BBJ reports that Fish & Richardson is laying off 30 support workers - and that it's let 49 lawyers go since November.
even if...
...the general public isn't all that broken up about lawyers at big law firms being laid off, it's another industry that is starting to shed jobs...all of which has bad ripple effects in this economy.
This is a national trend. The last time I saw law firms laying off attorneys like this was in the wake of the dot.com bubble bursting, when huge intellectual property shops were closing up. I think we're sadly too early in the cycle to see where this will end.