Economic Downturn Affecting Lawyers Across Globe

By Jesse Greenspan

Law360, New York (October 30, 2008, 12:00 AM ET) -- Law firms are cutting staff all over the world, particularly in large financial centers such as New York and London, but many are still looking to open new offices and ramp up certain practice areas, according to legal consultants and attorneys.

As the economy has worsened, law firms have announced a steady stream of layoffs. In fact, the industry lost nearly 12,000 jobs from November 2007 to November 2008, according to the U.S. Department of Labor, and that was before a slew of well-known firms announced...
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