Manhattan skyline. (Credit: Songquan Deng/Shutterstock.com) 
As demand and revenue growth slowed down, New York law firm profits plummeted 18.3% through the first three quarters of the year, while head count and expenses soared, according to a bank survey of firms. So far, New York law firms have generally held off on personnel cuts tied to performance reviews—but that could be coming soon.
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