Pennsylvania’s largest law firms recovered from the pandemic quicker than industry leaders expected in the months following the COVID-19 outbreak in the United States. As they adjusted to new modes of operations—most notably remote work—many found opportunities for significant cost savings that made up for shortfalls in revenue. 

Even law firms that reported declines in gross revenue from 2019 to 2020 had banner years for profits thanks to the reduction of expenses associated with travel and events. The question going forward for firm leaders will be what criteria will be used to assess the importance of in-person events versus cost savings. 

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