As M&A practices in Big Law take a breather this year, other law firm groups are slowing down too. Areas such as tax, employee benefits and executive compensation, antitrust and other ancillary practices are all feeling the effects.
That generally means fewer billed hours in these ancillary practices; less resources budgeted for the groups for the rest of the year; more time these lawyers spend in seminars, conferences and other nonbillable activities; and fewer lawyers hired in the groups, according to law firm leaders and recruiters.
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