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Silver Lining in Law Firm Layoffs News: Many Partnerships are Better-Managed
With law firm layoffs seemingly snowballing and major international firms making capital calls on partners and predicting flat profits at best, the economic outlook in the legal arena right now clearly isn't sunny.
But neither is it as stormy as some news reports might suggest, despite the demise of a few well-known law partnerships largely focused on servicing shell-shocked financial institutions. Law firms that are well-managed shouldn't suffer too much, and the worldwide economic crisis is encouraging many to sharpen their oversight skills, says Joel Henning, a senior vice president of Hildebrandt International who is in charge of the legal consultant's Chicago office.
In a survey Hildebrandt conducted to see how law firms were doing on bellwether… Continue reading...
