Downturn Drives Firms To Seek Rent Savings: Experts

Law360, New York (July 20, 2009, 7:30 PM EDT) -- Cadwalader Wickersham & Taft LLP’s putting out feelers for cheaper digs for its London offices reflects an industrywide impulse to reduce rent in the midst of a recession, according to experts.

While most firms won't uproot their offices right away, experts say they're already subleasing space, exploring cheaper options for the future and even renegotiating the leases they signed in boom times.

"Right now the name of the game is cutting costs across the board," said Jack Zaremski, the founder and president of Hanover Legal Personnel...
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