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WHAT WE’RE WATCHING
CORONAVIRUS CUTS CONTINUE – A recent survey from Wells Fargo Private Bank found that a strong start to 2020 helped soften the blow for many law firms when COVID-19 began to crush legal demand. But even as economies begin to reopen, the legal industry still has a long road out of the woods, as evidenced by continued cost-cutting measures by several firms, including, most recently, Holland & Hart, Stroock & Stroock & Lavan and Fried Frank. Dan Packel reports that, since the beginning of June, those firms have implemented compensation cuts and/or staff buyouts, signaling that even healthy firms remain cautious as the pandemic lingers.
