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Legal Week highlighted the fact that a number of leading firms are considering the idea of contract lawyers, to help staff up as the market picks up.
Travers managing partner Chris Carroll said: "We have become very busy and stretched but are cautious about going back into the recruitment market unless and until we feel the [...]

The fact that hourly rates for Partners have in the case of the ‘magic circle’ decreased by one-third is an entirely pragmatic reaction to current and recent market conditions with clients demanding greater value for money and where possible insisting on fixed fees.
In comparison hourly rates for Associates have remained comparatively static with newly-qualified [...]

Despite the fact that promotions to Partner at the top 30 firms fell by an average 30% in 2009 the second YouGov legal survey has found that the percentage figure of fee-earners and PSLs with partnership aspirations has risen from 46% in 2008 to 56% this year.
Even more surprisingly, of the 500 fee-earners surveyed  [...]

The news that CMS Cameron McKenna has put its entire corporate department on a rolling sabbatical programme and that Travers Smith have offered a sabbatical scheme for staff in its real estate and corporate groups are both moves clearly aimed at cutting overheads in the short-term, particularly in what will possibly be a quiet corporate [...]

The Lawyer reports that:
There’s only one story anyone is interested in at the moment: the goings-on at Clifford Chance. Yesterday the firm announced that it was axing up to 80 associates and putting 880 London lawyers in consultation.

The effects of the current market conditions are being felt everywhere and the law firms are not being [...]

The FT reports that the
UK law firms are being pushed to reform hourly fee system which is coming under pressure from clients complaining of high fees at a time of soaring legal industry profits.

Many of the top firms are starting to offer alternatives to hourly rates and making more use of cost-cutting business practices, such as putting services [...]

Results just published are showing that trainee retention rates across the UK’s elite legal profession are holding steady, with many firms keeping hold of more than 90% of their intake despite a sharp dip in City lawyers’ overall business confidence.
Legal Week reports that:

The results come despite business confidence among the UK’s top lawyers recently faltering, [...]

The work-life balance of the UK’s lawyers has come under scrutiny as part of a Law Society review to see why record numbers appear to be leaving the profession.
Some say the popular belief that the life of a City lawyer is all about big bonuses, expensive holidays and flowing champagne is misguided and, in fact, the [...]

Legal Week reports that Freshfields Bruckhaus Deringer UK corporate head Tim Jones has vowed to put alternative career paths at the top of his agenda in his new role as head of the firm’s London management group.

Career management is one of a number of projects Jones has singled out for attention since taking over from [...]

Legal Week reports that Freshfields Bruckhaus Deringer has broken the £1m profits per equity partner (PEP) figure for the first time, while turnover at the magic circle firm stands just short of £1bn.
Provisional figures from the magic circle firm show PEP is up 25% from the £830,000 mark last year, with each of the firm’s [...]

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