As the economic downturn continues to cast a pall over law firms, many are introducing new models to try to reduce costs, improve client services and stave off massive layoffs and/or implosion. This article looks more closely at some of these models, analyzes what the effects have been so far, and discusses which changes seem to hold the most potential for long-term improvement of the industry.
Everyone is painfully aware of the various measures firms have been forced to take in response to the economic downturn. There have been layoffs (and then more layoffs), salary reductions and freezes, deferred start dates, the elimination of summer programs, and the list goes on. While these changes may be disconcerting, there are some upsides, a couple of important trends on the horizon, and constructive and creative new programs being launched.
New Tracks Are Established
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