Canadian firm Goodman and Carr decided to shut down operations after losing a number of partners last month. Over the past two years the firm has lost attorneys to competitors, but the failed merger talks with Baker & McKenzie that prompted several senior partners to leave seemed to be the last straw. The closing of this 90-lawyer firm is said to be Canada’s largest law firm closing, and possibly indicative of the stress on many mid-size firms. Large firms are increasing recruiting efforts of talent in mid-size firms, putting pressure on these firms to stay competitive and focused.
Source: www.theglobeandmail.com