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The American Lawyer

After a Strong First Quarter, Citi Says Firms Are Focused on Cash Flow

Median projections of 15% declines in second-quarter demand and revenue are partially driven by an estimated 11% lengthening of the collection cycle.
7 minute read

The American Lawyer

Perkins Coie Cuts Pay for Lawyers and Staff, Prepares for 'Transformational' Shift in Economy

"We are seeing that this is not just a recession," said managing partner Bill Malley, who said the firm is committed to trying to avoid layoffs or furloughs.
4 minute read

New York Law Journal

Social Media Activity for the Solo Attorney

Not surprisingly, solo attorneys focus most of their social media activities on LinkedIn.
7 minute read

International Edition

UK Legal Industry Turnover Growth Plummeted to Four-Year Low in Q1

The Office of National Statistics figures include the last few weeks of March when COVID-19 began to impact the economy.
2 minute read

International Edition

Taylor Wessing Cuts Partner Drawings and Readies Reduced Hours Scheme

The firm has also delayed its partner promotions round until later this year.
2 minute read

International Edition

Top Irish Firms Reduce Working Hours, Pay and Cancel Bonuses

The steps have been taken as COVID-19 places pressure on the Irish legal sector.
3 minute read

New York Law Journal

At Schulte Roth, COVID-19 Pandemic Accelerates New Leadership Goals

With a firm clientele dominated by the financial industry, co-managing partners David Efron and Marc Elovitz said they've been able to avoid painful cuts as they navigate the crisis and longer-term strategic goals.
6 minute read

The American Lawyer

Cost Cuts Spread Across Big Law's Billion-Dollar Club

More Am Law 25 firms, including at least one more on Monday, are using compensation levers to shore up their finances in an economy upended by COVID-19.
5 minute read

The American Lawyer

Guarding Cash, Quinn Emanuel Hits Pause on Partner Distributions and Rejiggers Draws

The moves, according to founder John Quinn, are focused on building the firm's "cash reserves" as the COVID-19 crisis persists and its economic impacts mount. Quinn said the firm's finances are sound, with no layoffs or furloughs in the works.
3 minute read

International Edition

Eversheds Sets Up Scheme to Facilitate Hours and Pay Reductions

The six-month programme will see staff in impacted sectors placed on reduced hours and pay to mirror client demand.
2 minute read

More from ALM

More from ALM

Legal Speak is a weekly podcast that makes sense of what’s happening in the legal industry.

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