Pay cuts, delayed partner distributions and layoffs took place at many law firms this spring in an immediate response to the economic turmoil during the coronavirus pandemic. Months later, conditions are ripe for a possible second wave of austerity measures to sweep through the legal industry, legal market observers said.

Some law firm leaders, in interviews, said they see reason for optimism, but they aren’t taking layoffs off the table.

This content has been archived.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 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]