For some employees of legal tech companies, the holidays have been far from merry, as their employers have trimmed headcounts and sent out layoff notices.
The exact number of layoffs in legal tech are unknown. It is difficult to track and confirm layoffs, as companies are often secretive about them. Although, in the U.S., the federal Worker Adjustment and Retraining Notification (WARN) Act requires employers to report layoffs, it generally applies only to employers of 100 or more employees that layoff 50 or more employees.
So, although this may not be a comprehensive list of recent legal tech layoffs, here are the ones that have been reported.
Contractbook. Two weeks ago, Niels Martin Brochner, founder and CEO of the Danish contract lifecycle management company Contractbook, took to LinkedIn to announce the layoff of 32 employees.
“Like many other companies in our industry, we must reduce our headcount