Firms face dearth of work as clients cut spending
The UK's top companies are set to cut back on the amount of legal work sent to external advisers and retain work in-house, according to Legal Week research. Legal Week Intelligence's (LWI's) 2008 Client Satisfaction Survey has found that more than a fifth of companies (23%) are planning to scale back the amount of work they send to private practice firms over the next year, with that figure increasing to 28% within the FTSE 100. The report, which is based on data from 317 companies, including 54% of the FTSE 100, found that the proportion of legal work outsourced by FTSE companies has fallen in recent years - dropping from 51% to 42% over the last five years.At the same time, in-house departments have grown year-on-year since the first satisfaction survey in 2004. Some 38% of respondents said their legal teams expanded over the last 12 months, with half of the FTSE 100 boosting capacity.
This premium content is reserved for
Legal Week Subscribers.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now