Law Firms Face 'Stagnant' Economic Outlook In 2012

Law360, New York (January 1, 2012, 12:00 AM EST) -- After a 2011 filled with a flurry of merger activity, support staff layoffs and continued unease over the economy, legal industry consultants can sum up their 2012 economic outlook for law firms in one word: stagnant.

Pressure from corporate clients to cut legal costs, as well as increased competition for legal services from corporate legal departments and outsourcing firms, has left many firms cautious, consultants said. While that won't necessarily lead to the levels of attorney layoffs seen during the height of the recession, firms will...
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