Source: The American Lawyer
By Nell Gluckman
Should law firm leaders be firing more lawyers? That seems to be the takeaway of a report released Wednesday by the legal consultancy Altman Weil.
Nearly 60 percent of the 356 law firm leaders surveyed for the report said that overcapacity is hurting their firm's profitability. The problem is more pronounced among firms with 250 lawyers or more, with 75.6 percent of them citing overcapacity as a drag on profits, the report said.
Jeffrey Lowe, leader of the law firm practice at the recruiting firm Major, Lindsey & Africa, agreed with Seeger that many law firms are actively shedding lawyers, but in a piecemeal fashion that doesn't always attract headlines.
"They're so reluctant to get rid of unproductive partners, and that's been keeping them from being as ruthlessly efficient as other industries might be", Lowe said.
Read more of this feature at The American Lawyer.