The sky may not be falling for U.S. law firms, but more than three months after nationwide coronavirus shutdowns brought the American economy to its knees, several firms are continuing to enact austerity measures, with Holland & Hart, Stroock & Stroock & Lavan and Fried, Frank, Harris, Shriver & Jacobson recently joining the list.

A recent survey from Wells Fargo Private Bank found that a strong start to 2020 helped limit the slippage in demand to just a 1.4% drop for the first five months of the year. Nonetheless, the measures taken by these firms seems to validate Wells Fargo senior director of sales Joe Mendola’s conclusion that the impacts of dampened demand will become more immediate in the coming months.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Advance® Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]