Balancing Raises and Layoffs

As you may know there have been many raises this year given out in response to the big law firms that are trying to establish themselves as superior. Of course nobody wanted to be left behind, so it lead to a domino effect of raises throughout the industry. But will those who have been seen as "big" be able to keep up?

Cadwalader has just laid off 35 of its associates. They have five offices in New York, London, Washington, Beijing, and Charlotte. They are by no means small potatoes. So what do you think? Are there more layoffs to follow?