Altman Weil principal Eric Seeger sees a lot of parallels between 2009 and today. Not only in the similar economic conditions—a stalled economy, which has led to client demands for discounts and austerity measures across the industry—but also in law firms themselves.
This year’s annual Altman Weil Law Firms in Transition survey is most striking, Seeger said, in how little the answers and data have changed over the years. By the time the pandemic struck, most firms had not addressed the issues that dogged them in the recession a decade ago, including overcapacity and underproductivity in the partnership ranks, according to survey results released Wednesday.
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