Law Firms Look for Right Mix to Survive

The coronavirus pandemic and its devastating effect on the economy have pushed a number of law firms to make tough decisions about their futures. The fallout includes pay cuts, furloughs and layoffs.

Tough Choices: These sober decisions may be necessary to avoid further pain down the road. But firms are also mindful of the Great Recession when some cut headcount sharply—and regretted it later.

Into Action: For now, some firms are moving rapidly in this crisis. “The sooner you pull the trigger on the reductions, the sooner you see the benefit,” said Kent Zimmermann, a legal strategy consultant for ...