I don't think the other top-tier New York [law] firms lay off associates anymore. I think they've learned their lesson from the last few downturns.
~ Scott Barshay, mergers and acquisitions partner, Cravath, Swaine & Moore, "Credit Market Collapse Claims Victims as Lawyers Exit," Bloomberg.com, November 20, 2007
(He added that his firm has never laid off associates. Cravath is New York's second-most profitable law firm.)