Jun

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Partner Profits Down

June 10, 2009 | Leave a Comment

>диваниerbium doped fiberFinancial Times reports that the Magic Circle firms are seeing their profits fall as the credit crunch finally catches up with the firms who have been benefiting from the boom time deals. This has resulted in redundancies, pay freezes and discounted work, yet many of the corporates are reporting that the work load is not dropping. In fact with the head count freezes in place most of the lawyers are having to work even longer hours.

There has been a shift to the idea of bringing in staff to cover work that needs to be completed, without resorting to new hires. ItsMyLaw has seen an upswing in the demand for lawyers working on specific contracts to provide the resources that are needed with out the firm incuring the cost of hiring new staff.


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