Firms Roll Out 5 Cost-Cutting Strategies For 2010

Law360, New York (January 2, 2010, 5:37 PM EST) -- With revenue expected to be flat or worse in 2010, law firms will continue cutting costs across the board, including reducing headcount among nonequity partners and continuing to revamp associate pay, according to legal industry consultants.

Despite a year of cost-cutting that included massive associate layoffs, executive directors at many U.S. law firms are still focused on a crucial question: Did we do enough in 2009? While the extent of more cutbacks depends heavily on the economy, the belt-tightening isn't anywhere near over, consultants said....
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