Business meeting.Just before a global pandemic forced scores of large and small firms alike to cut expenses, the biggest law firms in New York continued to grow their classes of newly-minted partners in the last year.

Now legal market observers say the growing promotions at New York’s biggest firms—a trend that the New York Law Journal has observed now for the past couple of years—may halt or reverse amid the economic turmoil from the coronavirus pandemic, as law firms look to preserve profit from any remaining business.

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