For Pennsylvania’s largest law firms, 2016 waffled like an indecisive kid in a candy store, with news of mergers that almost were, finances that looked bad to start but perked up by year’s end, unexpected choices to be had on salaries and bonuses, and layoffs coupled with streams of large acquisitions.
On the whole, financial advisers to law firms predict Pennsylvania firms will outshine their national counterparts in 2016 when it comes to revenue, inventory, cost management and profitability. That didn’t always look the case at the start of the year as the entire industry faced sluggish demand and still does.
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