As corporate priorities shift in response to the pandemic, some legal work that clients once considered of the utmost importance will no longer be, as law firms love to say, “bet-the-company.”
Cost Cutting to Come: Big Law pricing departments were developed in the wake of the last recession to help clients and law firms reach agreements that provide relief for clients in the short-term and preserve law firms’ health for the long-term.
Proper Responses: Partners will feel pressured to provide billable hour discounts, but pricing experts say that can prolong a downturn for firms. There are plenty of other ways law firms can be empathetic to clients and help them out in a time of need.
Roy Strom has more in the latest Big Law Business column.
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BLOOMBERG LAW ANALYSIS
ANALYSIS: Lawyer Well-Being Critical During Pandemic
Firms that began prioritizing lawyer well-being through new programs, policies, and incentives like work-life programs and alternative hours targets before the coronavirus crisis have a head start in responding to the pandemic. According to a recent Bloomberg Law survey, large law firms are the ones who most likely got this head start.
- · At least 65,434 people in the U.S. have been diagnosed with Covid-19, the disease caused by the novel coronavirus, and 937 people have died. Global confirmed cases of Covid-19 now surpass 450,000 worldwide, with deaths topping 21,000.
- · Many companies have turned to their employment lawyers to understand their legal duties to notify workers about mass layoffs. Management-side attorneys spoke to Bloomberg Law about some of the most common questions they’re getting from businesses.
- The Third Circuit is closing the doors of its Philadelphia courthouse for several days after two attorneys who appeared at the court recently told the court they had symptoms of coronavirus. Track the latest changes in court operations using our interactive map.
Follow Bloomberg Law reporters on Twitter as they track updates from courts across the country with the hashtag #COVID19Courts.
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