In a landmark financial performance, Goodwin Procter LLP has announced a record-breaking $2.7 billion in annual revenue, underscoring its powerful momentum in mergers and acquisitions (M&A) and complex litigation. The impressive total marks a 12% increase from the previous year, setting a new benchmark for the Boston-founded Am Law 50 firm and signaling continued demand in key growth sectors.

A Strategic Shift Yields Historic Growth

According to Anthony McCusker, the firm’s chair and one of the architects behind its “Goodwin 2033” strategic vision, the year’s results stem from a focused effort to enhance collaboration between transactional and litigation teams. The firm has intentionally blurred the traditional divide between its dealmakers and litigators, ensuring cross-discipline agility and deeper client engagement across industries like life sciences, private equity, real estate, and technology.

The strategy appears to be paying off handsomely. Amid volatile market conditions, rising interest rates, and regulatory pressures, Goodwin’s deal and dispute teams continued to attract marquee clients and headline transactions—especially in private equity and capital markets, where the firm maintains one of the largest dedicated practices in the United States.

Litigation Arm Powers Ahead

Goodwin’s litigation practice emerged as a central growth engine, fueled by a surge in intellectual property, securities, and commercial disputes. The firm’s IP litigators were particularly active representing clients in life sciences and tech, two industries undergoing heightened patent-infringement battles and investor-driven lawsuits.

The litigation team’s success dovetails with Goodwin’s increasing work in shareholder activism and takeover defense, areas seeing a sharp uptick as investors pressure boards and management teams. To further strengthen that front, Goodwin recently brought on Leonard Wood, formerly of Sidley Austin, to spearhead its activism and takeover-defense group. His arrival reflects the firm’s intent to capitalize on a growing niche at the intersection of corporate governance and litigation.

M&A Excellence and Sector Diversification

While litigation brought substantial billings, M&A work remained Goodwin’s bedrock. The firm advised on several billion-dollar transactions in healthcare, real estate, fintech, and venture-capital spaces.

Private-equity and fund formation teams also delivered standout performances, advising both emerging managers and institutional investors on fund structures, exits, and secondary transactions. Goodwin’s long-standing relationships with venture-capital clients gave it a front-row seat to a market that—despite headwinds—continued to produce liquidity events and consolidation opportunities.

The firm’s healthcare and life-sciences practices were similarly buoyant, assisting biotech and pharmaceutical clients with mergers, licensing deals, and regulatory matters, particularly those tied to FDA and compliance concerns.

Leadership Transition and Vision for 2026

Looking ahead, Goodwin is preparing for a leadership transition set to take effect in October 2026. Joshua Klatzkin, a partner in the private-equity group, is slated to succeed Managing Partner Mark Bettencourt. Klatzkin, who has represented some of the firm’s largest fund clients, is expected to continue the firm’s trajectory of integrating transactional sophistication with cutting-edge litigation strategies.

McCusker emphasized that Goodwin’s success is not predicated on expansion through mergers—a popular trend among elite law firms—but rather through strategic discipline and client-focused innovation. “We’re not chasing mergers or headlines,” he said. “We’re building sustainable value through smarter structures and closer alignment with our clients’ long-term goals.”

Evolving Business Model and Alternative Fee Strategies

In a legal market increasingly demanding transparency and flexibility, Goodwin has embraced alternative fee arrangements (AFAs)—including fixed fees, success-based billing, and collaborations with litigation funders. These models have proven attractive to clients seeking predictability in high-stakes matters while allowing Goodwin to share in upside outcomes when favorable results are achieved.

The firm’s embrace of these progressive pricing structures has differentiated it from traditional competitors and contributed to steady client loyalty across industries.

Industry Context and Competitive Edge

Goodwin’s revenue growth roughly tracks broader trends in the Am Law 100, where leading firms reported an average increase of 11.4% in the first quarter of 2025, according to industry banking data. However, Goodwin’s consistent year-over-year trajectory and record revenue highlight its ability to maintain strong margins amid fierce competition for talent and slowing demand in certain transactional sectors.

By balancing its litigation boom with sustained M&A activity, the firm has created a resilient dual-engine model—one that positions it to weather market fluctuations more effectively than firms with narrower practice bases.

Future Outlook

As Goodwin continues to expand globally—particularly in New York, London, and Hong Kong—it is expected to double down on high-growth sectors like investment funds, fintech, healthcare, and ESG-driven corporate work. The firm’s 2033 strategic plan calls for ongoing investment in technology infrastructure, AI-enabled due-diligence tools, and enhanced client-service platforms.

With $2.7 billion in revenue, Goodwin has not only set a new internal record but also firmly secured its position among the most profitable global firms. The milestone reflects not just financial achievement, but a transformation in how modern firms structure, collaborate, and deliver legal services in a rapidly evolving marketplace.

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Major Expansion for Morrison Foerster’s Emerging Companies Group

In a significant move to strengthen its presence in the competitive market for technology and startup legal services, Morrison Foerster announced on Wednesday the addition of a seven-lawyer team from Goodwin Procter. This high-profile acquisition includes partner Peter Fusco, who is set to co-lead the firm’s emerging companies and venture capital group.

Key Partners Bolstering the New York Office

Peter Fusco, alongside partners Jae Zhou and Frank Paz, will join Morrison Foerster’s New York office. The trio brings extensive expertise in advising venture capital funds, early-stage startups, and other innovative tech enterprises—a client demographic that continues to be highly sought after by leading law firms.

Leadership and Strategic Impact

Fusco will share leadership responsibilities with current co-chairs Michael Glaser and Jim Krenn, who are both based in California. Glaser highlighted the strategic value of the new team in an official statement, noting that Fusco’s technology-focused practice will significantly enhance Morrison Foerster’s influence within New York’s vibrant business ecosystem. Efforts to reach Fusco for comment were not immediately successful.

Expanding a Robust Emerging Companies Group

Morrison Foerster’s emerging companies and venture capital group is already an established force, comprising over 100 lawyers as per the firm’s website. This addition further cements its standing in the legal market, providing clients with an even deeper bench of seasoned professionals. Globally, Morrison Foerster boasts a team of over 1,000 attorneys.

A History of High-Profile Legal Work

During his tenure at Goodwin Procter, Fusco co-led a team that advised on notable deals, including the 2023 sale of Salt Lake City-based Pathology Watch to Sonic Healthcare, an Australian firm. Goodwin Procter had previously highlighted Fusco’s contributions in their announcement of the deal.

Previous Collaborations and Notable Transitions

The new hires come as part of a broader trend for Morrison Foerster, which has recently attracted key talent from Goodwin. Fusco and his team originally joined Goodwin in 2021 as part of a group transition from Orrick Herrington & Sutcliffe. Additionally, another lawyer from this cohort, William Wilson, joined Morrison Foerster’s technology transactions group earlier in July. This was preceded by Morrison Foerster’s March acquisition of five cybersecurity lawyers from Goodwin, including a practice leader.

Goodwin’s Response to Departures

Goodwin Procter acknowledged the departure of Fusco and his team, with a spokesperson stating that the firm wishes them well in their new roles. Despite the loss, Goodwin remains a formidable player in the tech and venture capital legal space, maintaining a strong foothold with a diverse roster of specialized attorneys.

Strengthening Morrison Foerster’s Market Position

The strategic addition of this team is poised to bolster Morrison Foerster’s capabilities and expand its influence in critical markets, particularly in New York, which is known for its dynamic and competitive business landscape. The move reflects the firm’s commitment to deepening its expertise and providing comprehensive legal support to the burgeoning technology and startup sector.

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Leading U.S. and international law firms are handling fewer corporate deals in 2024, but the ones they manage are more valuable than the previous year. This pattern mirrors a broader trend in global mergers and acquisitions (M&A) activity, marked by a significant rise in deal values but a decrease in deal volumes.

Global M&A Value Sees Significant Growth

In the first nine months of 2024, the value of announced global M&A deals hit $2.3 trillion—a 16% increase from the same period last year. This represents the strongest first nine-month period for dealmaking since 2022, according to data released by the London Stock Exchange Group (LSEG). While the financial value of deals soared, the number of transactions plummeted to an eight-year low. Over 35,500 deals were announced, a sharp 20% drop from the same timeframe in 2023.

Kirkland & Ellis Leads in Principal Advising

Chicago-based Kirkland & Ellis maintained its position as the top principal adviser in LSEG’s rankings by deal value, working on 556 global deals worth a staggering $295 billion. However, Skadden, Arps, Slate, Meagher & Flom edged out Kirkland as the top adviser in overall global announced deals, handling 159 deals valued at $331 billion, including those withdrawn or called off.

One of the year’s standout deals, the $36 billion acquisition of Cheez-It maker Kellanova by candy giant Mars, saw Kirkland and Skadden on opposing sides. Skadden advised Mars, while Kirkland represented Kellanova.

Goodwin Procter and Latham & Watkins Among Top Players

Goodwin Procter, a Boston-based firm, secured the No. 1 spot for the highest number of deals, overseeing 603 transactions worth $91 billion. Meanwhile, Latham & Watkins ranked second in terms of deal value, handling 458 global deals valued at $273 billion. Notable transactions for Latham included advising SRS Distribution in its acquisition by Home Depot and assisting Skydance Media with its acquisition of Paramount Global, one of Hollywood’s oldest film studios.

Market Uncertainty Lingers Despite Strong Activity

Despite the rise in M&A deal values, market uncertainty remains a concern for dealmakers. According to Mark Bekheit, Latham’s global vice chair of M&A, headwinds persist in the market, including ongoing scrutiny from government agencies and the recent U.S. Federal Reserve rate cut. Some dealmakers expect a slowdown in the fourth quarter as companies delay major transactions until after the upcoming U.S. elections. However, Bekheit remains optimistic about continued deal activity through the end of the year, noting that many unannounced deals are still in progress.

Outlook for Q4 and 2025 Remains Optimistic

Other legal experts share a hopeful outlook for the rest of the year. Michael Weisser of Kirkland & Ellis pointed to a strong M&A pipeline, while also noting that external factors such as the U.S. elections and geopolitical events could influence the market moving into 2025. David Barkus, co-leader of Holland & Knight’s corporate M&A practice, expects an increase in deal activity regardless of the election’s outcome.

In conclusion, while the number of M&A transactions is decreasing, the deals that are closing are larger and reflect a robust market for corporate mergers and acquisitions. Despite potential challenges, the outlook for M&A activity remains optimistic as law firms continue to adapt to evolving market conditions.

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Goodwin Procter, a global law firm with over 1,800 lawyers, is pioneering initiatives to support its attorneys who have ADHD, fostering a more inclusive workplace environment.

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Recognizing the Need

With a reported 12.5% of lawyers experiencing ADHD, significantly higher than the general adult population, Goodwin Procter partnered with Dixon Life Coaching to provide tailored support programs.

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The Focused Lawyer Coaching Group

In November 2023, Goodwin Procter launched a three-month coaching program, empowering 12 associates to enhance their skills and work productivity. Co-working sessions facilitated accountability and camaraderie among participants.

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Extending Support

In May, the firm plans to extend its coaching program to professional staff with ADHD, reflecting its commitment to inclusivity and employee well-being.

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Overwhelmingly Positive Feedback

Participants in “The Focused Lawyer” group reported feeling more engaged and connected to the firm, highlighting the efficacy of tailored support in fostering professional growth.

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Expertise and Guidance

Elaine Ventola, Goodwin Procter’s director of career coaching, recognized the need for specialized support and collaborated with managing directors to implement comprehensive coaching initiatives.

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Industry Impact

Dixon Life Coaching, specializing in ADHD coaching for lawyers and high-achieving professionals, underscores the increasing demand for tailored support services in the legal industry.

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Empowering Lawyers with ADHD

Evan Monez, an attorney-turned-coach, emphasizes the importance of understanding ADHD-related challenges and leveraging coaching to enhance strengths and productivity.

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A Supportive Community

For attorneys like Carrie Garber Siegrist, Goodwin Procter’s commitment to providing resources and fostering a supportive community has been transformative, instilling confidence and a sense of belonging.

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In a strategic move to bolster its presence in the technology and life sciences sectors, Goodwin Procter announced the addition of a five-partner team from Cooley in Boston. This significant development underlines the firm’s commitment to serving clients in these rapidly evolving industries.

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Introducing the Team

Pat Mitchell, along with partners Michael McGrail, Giselle Rivers, and Harley Brown, will be joining Goodwin’s technology practice. Additionally, former Cooley lawyer Josh Rottner will contribute to Goodwin’s life sciences practice, further enriching the firm’s expertise in these specialized fields.

The team brings with them over a decade of collective experience, during which they have provided invaluable counsel to clients in technology and life sciences, particularly in navigating investments in artificial intelligence (AI).

Strategic Consolidation in Legal Services

Pat Mitchell emphasized the anticipated consolidation in legal services within these verticals and expressed confidence in Goodwin’s potential to emerge as a key player in this landscape. Mitchell’s leadership and insight position the firm for success in serving the evolving needs of clients in technology and life sciences.

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Signs of Market Recovery

Despite a recent slowdown in tech and young companies’ work, both Goodwin and Cooley are poised for resurgence as the M&A and public offerings markets show signs of renewed activity. The optimism surrounding tech-focused law firms is further fueled by the prospect of interest rate cuts and an increasingly promising IPO pipeline.

Emerging Trends in AI

With a keen eye on emerging technologies, including AI, Goodwin remains at the forefront of legal innovation. Pat Mitchell and Harley Brown’s extensive experience in AI investments underscores the firm’s commitment to supporting growth-stage companies in the software, fintech, legal tech, and healthcare technology sectors.

Global Capital Markets Activity

The first quarter of 2024 witnessed a surge in global capital markets activity, marking the strongest performance in three years. Goodwin’s co-chair of the technology practice, Ken Gordon, highlighted the increased demand for the firm’s services and the growing number of companies preparing for public offerings.

Leading Deal-Makers in M&A

Goodwin’s prominence in M&A markets was evident in the first quarter, with the firm advising on nearly $57 billion worth of deals. This impressive track record solidifies the firm’s position as one of Big Law’s leading deal-makers, further enhancing its reputation in the legal landscape.

Specialized Expertise and Client Focus

Each member of the newly integrated team brings unique expertise and a client-focused approach to their practice areas. From advising growth-stage companies to facilitating cross-border corporate transactions, the team’s diverse skill set aligns seamlessly with Goodwin’s commitment to delivering exceptional legal services.

Forward Momentum

As Goodwin Procter welcomes this esteemed team of partners from Cooley, the firm anticipates continued growth and success in serving clients at the intersection of technology and life sciences. This strategic expansion reaffirms Goodwin’s position as a leading legal advisor in these dynamic and rapidly evolving industries.

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Goodwin Procter, once termed the ‘poster child’ for recent layoffs, initiated its journey into 2023 with a significant reduction in workforce, cutting about 5% of its timekeepers, including associates and other legal professionals. The beginning of 2024 witnessed yet another wave of job cuts at Goodwin, and the firm has now elucidated the rationale behind what appears to be a covert series of layoffs.

Unveiling the ‘Performance Reviews’

As reported by the American Lawyer, Goodwin is currently amidst performance evaluations, resulting in the dismissal of an unspecified number of associates. The firm stated:

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“Every January, we deliver performance reviews as part of our annual associate and professional track attorney evaluation process. And as part of this process, each year, the firm facilitates the transition of lawyers who are not performing at the high standards that our clients expect of us.”

Ambiguity Surrounding the Job Cuts

While many layoffs in the legal industry have been labeled as “performance-related” over the past year, it remains uncertain whether Goodwin’s 2024 cuts stem from a more stringent review process.

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Contextualizing the Situation

Reflecting on past instances documented by Above the Law, there’s scant evidence to suggest that Goodwin’s “annual” January performance reviews have historically led to such widespread associate layoffs. Notably, the only January dismissals discussed previously were part of last year’s reduction in force, unrelated to associate performance. This lack of transparency underscores Goodwin’s need to reassess its internal processes and communication strategies as the firm’s performance is questioned.

As Goodwin Procter continues its cycle of associate layoffs under the guise of performance evaluations, there’s a growing demand for transparency and accountability within the firm’s decision-making processes.

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In a strategic move to bolster its white-collar capabilities, Goodwin Procter welcomes Allan Medina, the former senior deputy chief of the Department of Justice’s fraud section, to its Washington office. Medina joins as a partner, contributing his expertise to Goodwin’s white-collar defense, government investigations, and healthcare practices. This addition follows a recent trend of former federal prosecutors joining Goodwin, showcasing the firm’s commitment to enhancing its legal firepower.

Recent Notable Additions

Katherine Wawrzyniak

In November, a seasoned legal professional, Katherine Wawrzyniak joined Goodwin’s San Francisco office. Previously with the US Attorney’s office in Northern California, Wawrzyniak was pivotal in prosecuting cases against notable figures such as former Google engineer Anthony Levandowski and Russian hacker Yevgeniy Nikulin.

David Lynn

Further strengthening its Washington team, Goodwin secured the expertise of David Lynn, who assumed leadership of the public company advisory practice. Lynn, the former chief counsel of the corporation finance division at the Securities and Exchange Commission, brings a wealth of experience to the firm.

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Building a Diverse Talent Pool

Richard Strassberg, chair of Goodwin’s white-collar defense and government investigations practice, emphasizes the firm’s commitment to assembling a team with diverse backgrounds, including former government officials. He notes that these professionals, like Allan Medina, bring valuable insights into the motivations of investigators and effective strategies for clients navigating the complex enforcement landscape.

Allan Medina’s Accomplishments

Medina’s impressive career includes joining the fraud section of the Department of Justice’s criminal division in 2012, where he later became chief of the healthcare fraud unit in 2019. Notable achievements include securing a conviction in 2013 against Health Care Solutions Network for a fraudulent scheme, resulting in over $63 million in claims to Medicare and Florida Medicaid.

Medina was crucial in successfully prosecuting Philip Esformes, a Florida nursing home owner involved in one of the largest healthcare frauds. Although Esformes had his sentence commuted by President Donald Trump in late 2020, the case underscored Medina’s significant contributions to combating healthcare fraud.

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In 2022, Medina was appointed senior deputy chief, overseeing a team of more than 74 prosecutors and data analysts. His leadership was instrumental in investigating and prosecuting individuals and companies across the country in complex healthcare fraud matters and cases involving illegal opioid prescription, distribution, and diversion.

Focus on Healthcare Space

Chris Wilson, co-chair of Goodwin’s healthcare practice, emphasizes the firm’s commitment to building a team of practitioners exclusively focused on the healthcare space. Recent hires, including former federal prosecutor Ilene Albala, former chief counsel to the HHS inspector general Greg Demske, former senior SEC enforcement division official Jonathan Hecht, and former chair of Pepper Hamilton Thomas Gallagher, collectively contribute extensive experience and insight. This expertise enhances Goodwin’s ability to guide clients through sensitive healthcare-related fraud disputes and investigations.

Shaping Corporate Enforcement and Compliance

Reflecting on his role as senior deputy chief, Medina highlights his involvement in shaping corporate enforcement and compliance, not only in healthcare but also in the Foreign Corrupt Practices Act space. He is keen to leverage his expertise to benefit clients and the Goodwin team, emphasizing compliance’s crucial role in law enforcement’s future.

Goodwin Procter’s strategic additions, including Allan Medina, underscore the firm’s commitment to excellence in white-collar defense, government investigations, and healthcare practices. These strategic moves position Goodwin as a formidable player in navigating the evolving landscape of legal challenges.

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In a strategic move to bolster its regulatory capabilities, leading law firm Goodwin Procter enlisted David Lynn’s expertise from Morrison & Foerster. Lynn, a seasoned legal professional with a notable background as the former chief counsel of the Securities and Exchange Commission corporation finance division, is set to lead Goodwin’s public company advisory practice.

A Respected Figure in Securities Regulation

Based in Washington, D.C., David Lynn previously spearheaded Morrison & Foerster’s public company advisory and governance practice. With extensive experience advising companies, boards of directors, and underwriters on regulatory matters, securities transactions, and corporate governance, Lynn brings a wealth of knowledge to his new role.

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Notable Transactions and Achievements

Lynn’s track record includes playing a pivotal role in the MoFo capital markets team that advised Arm Holdings plc on its groundbreaking $5.2 billion IPO in September 2023, marking the largest US-based IPO of the year. Additionally, he contributed to the team representing Silver Crest on its de-SPAC merger with TH International Ltd. for $1.4 billion in 2022.

Seamless Fit with Goodwin’s Expertise

In an interview with Bloomberg Law, Lynn expressed that Goodwin’s public company work is “perfectly aligned” with his background and skills. His advisory role encompasses guiding clients on various issues, from capital access to navigating new SEC regulations and addressing disclosure matters.

Goodwin’s Extensive Reach in Corporate and Litigation Matters

Edwin O’Connor, co-chair of Goodwin’s capital markets practice, highlighted the firm’s collaboration with over 600 public companies in diverse corporate and litigation matters. This extensive engagement gives Goodwin a unique vantage point, enabling them to anticipate and address emerging issues for their clients.

The Public Company Advisory Practice: A Comprehensive Approach

Lynn’s leadership in Goodwin’s public company advisory practice will focus on providing comprehensive advice and support in securities regulation, corporate governance, capital markets, transactions, and other regulatory matters.

A Distinguished Career Path

David Lynn’s career spans over a decade at the SEC before joining Morrison & Foerster in 2008. After a brief stint at Jenner & Block in 2017, where he served as co-chair of its securities practice, Lynn returned to MoFo in 2018.

Praise for Lynn’s Expertise

Edwin O’Connor commended Lynn’s outstanding expertise, citing him as the ideal person to lead Goodwin’s public company advisory practice. The strategic move to bring in Lynn reflects Goodwin Procter’s commitment to strengthening its position in regulatory advisory services.

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Goodwin Procter, a well-known law firm, has experienced a net gain of 254 lateral associates over the past two years. The firm has hired 646 lateral associates and lost 392 lateral associates during this period, averaging about one lateral associate move per day. The firm has hired more than 280 first-year associates and lateral hires in the past two years.

The hiring spree has paid off for Goodwin Procter, as the firm had a successful year in 2021. Profits per equity partner averaged $3.69 million in 2021, with a 27% increase in total hours worked and a 10.7% increase in total headcount. However, the high associate attrition rate of over 20% on a rolling annual basis in 2021 was a downside. A significant portion of the lateral hires, over 80%, were in transaction practices, which were affected by a decrease in demand during the second half of 2022.

In January 2023, the firm announced layoffs affecting 5% of its timekeepers and non-lawyer professionals. The Legal Compass data, which relies on profiles that may have remained online for many months, may not include these layoffs.

Joe Altonji, a firm management consultant and founding principal of LawVision, suggested that some associates joined Goodwin Procter leave after a short period. He stated, “For some people jumping from a 1,800-hour firm to a 2,800-hour firm, it was always going to be a short-term proposition. Folks were willing to endure it for some time.”

Mark Santiago of SB2 Consultants, another firm management consultant, told that the attrition rate may have reflected the working conditions during heavy deal work. He stated, “If what they were paying wasn’t enough to overcome the desire to get the heck out of Dodge because the conditions are so bad, … it feeds the narrative that associates are nothing but cannon fodder.”

Goodwin Procter has experienced a net gain of 254 lateral associates over the past two years, along with hiring over 280 first-year associates. The firm had a successful year in 2021, but the high associate attrition rate was a downside. Layoffs were announced in January 2023, affecting 5% of its timekeepers and non-lawyer professionals. The reason for the high turnover in lateral associates was speculated upon by experts, with some suggesting that the working conditions were a factor.

REFERENCES:

Goodwin Procter averaged gain or loss of 1 lateral associate each day since 2020

The post Daily Lateral Associate Movement at Goodwin Procter: Averaging a Gain or Loss of 1 Since 2020 first appeared on JDJournal Blog.

Goodwin Procter, a law firm, has seen a fluctuation in lateral associate hires and departures since 2020. The firm hired 646 lateral associates and lost 392, resulting in a net gain of 254 lateral associates. The daily average of lateral associate movement was one per day. The law firm also hired more than 280 first-year associates over the past two years.

In 2021, Goodwin Procter had a successful year, with profits per equity partner averaging $3.69 million, increasing total hours worked by 27%, and a 10.7% rise in headcount. However, the associate attrition rate during the same year was over 20% annually. Over 80% of the lateral hires were in transaction practices, which faced a decline in demand in the latter half of 2022.

In January 2023, the law firm announced layoffs for 5% of its timekeepers and non-lawyer professionals. Some laid-off employees may not be reflected which depends on online profiles that may have remained active for several months.

Joe Altonji, founding principal of LawVision and a firm management consultant, suggested that some associates joined the firm with short-term intentions. He stated that some associates who switched from a 1,800-hour firm to a 2,800-hour firm may have only been willing to endure the job for a limited period.

Mark Santiago of SB2 Consultants, another firm management consultant, opined that the attrition rate could have reflected the working conditions during heavy deal work.

In conclusion, Goodwin Procter has experienced both gains and losses in lateral associate hires and departures since 2020. Despite a successful year in 2021, the firm also faced an associate attrition rate of over 20% and layoffs affecting 5% of its timekeepers and non-lawyer professionals in 2023. The reasons for the high turnover rate of lateral associates are still being discussed among industry experts.

REFERENCES:

Goodwin Procter averaged gain or loss of 1 lateral associate each day since 2020

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