Shaking Legal's Foundations: Law firms feel recession's impact - Baltimore Business Journal


DLA Piper LLP laid off 101 lawyers this year. Miles & Stockbridge P.C. shortened its summer associate program by two weeks. And Whiteford, Taylor & Preston LLP offered incoming associates $3,500 a month — to delay starting work at the firm.

These are some pretty drastic moves for a profession that escaped past economic downturns mostly unscathed. But this recession has been an equal-opportunity business-buster, overwhelming even the biggest law firms along with the rest of the U.S. economy.

In response, firms have been forced to change the way they do business in ways likely to last even after the economy rebounds, experts say. It will mean a smaller work force at many firms, changes in how firms bill clients and midsize firms picking up work that once would once have gone to larger competitors in New York and Washington, D.C.

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DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© Pamela Woldow, Legal Leadership | Attorney Advertising

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