Credit: ipopba/Adobe Stock More Cuts, Higher Billing Rates Could Be on the Horizon for Big Law
Average law firm net income fell by 7.3% and profits per equity partner was down 8.5% through the first nine months of 2022, according to a new Wells Fargo report.
November 15, 2022 at 04:28 PM
3 minute read
Law Firm Profitability
The original version of this story was published on The American Lawyer
Layoffs may not be extensive yet. But with several financial indicators continuing to trend downward, personnel cuts will likely remain Big Law's biggest focus through the end of the year, according to a new report.
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