(Credit: Rudzhan/Adobe Stock) As Billing Rates Soar, Law Firm Clients Move to Spread Work Around
"Many law firms have seen their ability to collect on those increasing rates falter, and clients have become more aggressive about trying to tier work to lower-cost firms," according to a new industry report.
January 09, 2024 at 05:00 AM
6 minute read
The original version of this story was published on The American Lawyer
Sagging productivity within Big Law and declining realization have combined to put a damper on law firm profitability growth, and even the high pace of billing rate growth hasn't been able to remedy it, according to a new report.
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