The American Lawyer | Analysis
By Dan Roe | February 9, 2023
Prior to January's layoffs, the law firm has hired more than 600 lateral associates and lost nearly 400 since 2020, an American Lawyer analysis found.
The Legal Intelligencer | News
By Justin Henry | February 7, 2023
Billable hours per lawyer dipped by just 4.4% in a sample of Philadelphia-based firms, compared to 6.1% nationwide and 9% in New York. A Wells Fargo analyst credited the region's diverse practice mix for the relatively strong performance.
By Andrew Maloney | February 7, 2023
Firm costs actually dropped by the end of 2022, partly because firms were more frugal in staffing and pay. Law firms will continue to be vigilant on expense growth in 2023, analysts say.
The American Lawyer | Analysis
By Jessie Yount | February 1, 2023
"We're seeing a lot of interest in mergers of magnitude because laterals and [lateral] groups tend to rarely result in net growth, or net growth that is satisfying to the overall strategy," said law firm consultant Kristin Stark.
By Andrew Maloney | January 31, 2023
More large firms are also building their own ALSPs, according to a new report.
The American Lawyer | Analysis
By Andrew Maloney | Patrick Smith | January 17, 2023
"Getting people to come back in the office is continuing to be a challenge," said one Am Law 100 leader. "Do we lay down the law? Or is the cost of doing that not worth the price we will pay?"
By Andrew Maloney | January 11, 2023
For law firms at the highest end of the billing rate scale, certain practices are no longer as economically palatable as they once were.
By Justin Henry | December 8, 2022
Philadelphia's top-ranking firms in the Am Law 200 grew revenue and profits by double digits in 2021, reflecting the overall industry's unprecedented levels of demand for corporate and transactional legal services.
By Andrew Maloney | December 8, 2022
"Clients start by requesting an AFA and ultimately ask for a pre-negotiated discount," noted a report this week on the frequent usage of discounting plans.
By Andrew Maloney | December 7, 2022
From shifting head count and leverage to reducing office space and hybrid work, law firms have a variety of options next year to maximize profits and increase efficiencies.
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