Each Friday I select three of the best and most interesting Tweets from the prior week as my “Tweets of the Week”. Last week, I was struck by how my picks tell the current story of the legal market…
With demand flat, Big Law faces price and profit pressure. So firms try to grow in other ways, mostly by merging. And protect profit by cutting staff. To be sure, the story is more complex but the articles my Tweets reference, two from mainstream media, coming together within days, speak volumes.
Is this the death of hourly rates at law firms? – The Washington Post http://t.co/eapH1Ha9Pm
— ronfriedmann (@ronfriedmann) April 14, 2014
Law Firms Continue to Merge Despite Risk – @smithjenBK http://t.co/CgUuLs2YEh || and the long time it can take to yield return — ronfriedmann (@ronfriedmann) April 14, 2014
Profit pressure prompts firms to cut staff @AmLawDaily http://t.co/uUQRcHrf8u || 2007-12: lawyer to staff ratio 1.06 to 0.93
— ronfriedmann (@ronfriedmann) April 16, 2014
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