Law Firms Face Sluggish Economic Outlook In 2014

Law360, New York (January 01, 2014, 10:08 AM ET) -- Law firms will continue to face tough financial times in 2014 after another year of weak demand, experts say, as strategies like partner de-equitizations, staff layoffs, and revenue growth through mergers and lateral hires only partially soothe the ongoing pain of an industry in flux.

The buyer’s market for corporate legal services, more firmly established than ever, helped put pricing pressure on firms of all sizes in 2013. That trend is expected to increase in the coming year as clients seek more for their legal dollar...
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