Credit: bakhtiarzein/Adobe Stock Increasing Write-Offs in Client Bills Should Sound 'Loud Alarm Bells' For Firm Profits
Profit pressure from rising client discounts is also "driving lawyers hard to increase billable hours" and that could jeopardize talent if it continues, according to a new report.
December 02, 2022 at 04:08 PM
4 minute read
Big Law is planning big billing rate increases to offset inflation and other costs. But growth in discounts and write-offs have also tamed profits this year and could threaten both profitability and talent retention in 2023, a new report finds.
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