Report Urges Big Firms To Cut Even Deeper

Law360, New York (May 6, 2009, 12:00 AM EDT) -- Large law firms have already taken widespread cost-cutting measures in the past year and may hesitate to take any more, but deeper, sustained cost cuts are the best way to attain previous profitability levels, a new report says.

Law firms are resisting deeper cuts "partly because of internal and industrywide cultural pressures" the May 4 report by legal consultants the Zeughauser Group says, and "partly out of fear that they will be understaffed and blacklisted in the market when the economy rebounds."

The assessment comes after...
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