A recent survey reports an almost 5 percent drop in hours billed and a 4 percent drop in revenue last year for the 87 participating Am Law 100 firms. That compared to a steady 4 percent increase in work every year from 2001 to 2007 for large firms. Atlanta firms expected a tough year and budgeted accordingly, after work dried up in the last quarter of 2008 following the September collapse of Lehman Brothers. Of Atlanta's largest 12 firms, only four reported significant revenue increases.
Law Firm Survey Shows That Flat Is the New Up
April 6, 2010