Law Firms Steady Ship With Cost Control: Report

Law360, New York (August 20, 2009, 12:59 PM EDT) -- While the demand for legal services is down and rate growth is weak, cost controls and layoffs have allowed law firms to maintain profitability in the downturn, according to a new report.

While it is not clear whether the legal industry has reached the bottom, it appears that things are not getting worse, according to Hildebrandt International's "Peer Monitor Index," which the consulting firm announced Thursday based on the second-quarter performance of law firms.

“Demand and pricing volatility will continue to pose challenges for firms in...
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