Credit: ThongSam/Adobe StockSunbelt Law Firms Experienced More Moderate Growth Last Year, Alongside Some Job Cuts and Less Merger Interest
Law firms based in Florida, Georgia and Texas reported more revenue gains thanks to raising billing rates but weren't averse to firing small numbers of attorneys, according to a new managing partner survey conducted by ALM.
January 21, 2025 at 03:46 PM
4 minute read
What You Need to Know
- Sunbelt-based law firms have seen an increase in revenue gains thanks to higher billing rates.
- Those same Sunbelt firms have also reported less interest in mergers as they choose more moderate growth.
- But some of the Sunbelt firms have also reported layoffs over the past year.
Law firms headquartered in the states of Florida, Georgia and Texas are encountering a period of slowing growth after years of explosive expansion.
Although firms in the Sunbelt region did grow at a more moderate pace than firms in the Northeast, fewer Sunbelt firms reported shrinking in size, according to a survey filled out by regional managing partners. The 35 Sunbelt firms that filled out the survey also expressed significantly less interest in mergers even as many outside firms continue seeking to open up shop in the booming region.
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