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Law Firms Confront Issues of Underutilized Partners; 15% Plan Cuts In Early 2013
A survey of 115 mostly large law firms has found partner billable hours are on the decline, and some lawyers will find themselves without employment as a result.
Fifteen percent of the firms surveyed by Wells Fargo Private Bank plan to cut partners in the first quarter of 2013, Reuters reports. The number is higher than the usual 5 percent typically reflected in the survey, but lower than recession highs of about 25 percent.
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