The economic fallout of the Covid-19 crisis has reached America’s top grossing law firms. In response, many firms have acted quickly to protect their bottom line by instituting pay cuts and reducing partner draws; some have laid off or furloughed staff. In this video, Bloomberg Law’s Meghan Tribe and legal industry experts assess the impact on Big Law: what might happen if the crisis lingers and whether any law firms are in danger of collapsing. Industry experts featured include Michelle Fivel of Major, Lindsey & Africa, David Lat of Lateral Link, Bruce MacEwen of Adam Smith, Esq., Naz Vahid of Citi Private Bank, and Kent Zimmermann of Zeughauser Group.
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