The following article was published in Bloomberg on the state of US law firms: http://www.bloomberg.com/apps/news?pid=email_en&sid=a3Sz69kiPmYQ
There is some interesting insight by Kent Zimmermann of the Zeughauser Group as it relates to various avenues of cost saving avenues that still allow firms to retain top talent.
The Zeughauser Group typically takes a pretty hard-nosed approach to protecting the bottom line. As part of this tough medicine, Kent urges that, “cost-conscious firms to cut salaries, outsource more associate work to India, skip a year of attorney hiring and identify underperforming attorneys, practice groups and offices.”
One reoccurring theme throughout the second quarter is that firms are increasingly open to a multi- faceted approach to cut costs and retain profitability.