What You Need to Know
- Tech companies reliant on digital advertising have some risk of layoffs.
- But many areas of tech have a robust outlook.
- Adding attorneys in the 2023 budget might be a tough sell at many companies.
Experts on the in-house legal market say they don’t think the recent deep layoffs at Snap, which included prominent members of the legal team, are a sign of things to come at other tech companies.
They cite myriad reasons, including that, at startups especially, legal teams tend to be so small that cuts there don’t move the expense needle. Then there’s the reality that much of what a legal department does is essential, in good times or bad, and as a result cuts there could force companies to farm out more work to pricey outside counsel.
Lori Carpenter, president of Carpenter Legal Search, said the headline-grabbing cuts at Snap aren’t necessarily reflective of the overall tech market.
Read More: Snap's Legal Cuts Likely Not Sign of Carnage to Come, Recruiters Say - by Trudy Knockless, Corporate Counsel, ALM / Law.com