WSJ Article – Reflections From Surviving Law Firm

WSJ Article – Reflections From Surviving Law Firm

Prompted by a Wall Street  Journal article Monday, January 26, 2009, front page title “Recession  Batters Law Firms, Triggering Layoffs, Closings”, I sent off an e-mail to a  law firm in San Bernardino County to elicit a response.  Here are some  bullet points:

  • “Yes, a lot of firms are suffering.  The ones doing  the worst are the LARGE firm,s, with 600 $ + per hour rates, and the mega  clients who would write checks to them without a thought and are are now  cutting costs”
  • “We all expect it will slow in 2009, and as the CEO of  the Firm, I am projecting a 10% reduction in revenues.”
  • “So far, however, we have not seen it (reductions) and  personally, I am starting this year off  busy.”

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