As clients continue to demand more for less, India Business Law Journal reveals five LPOs that stand out from the crowd. By Rebecca Abraham
On 24 June, one of the most profitable US-based law firms, Weil Gotshal & Manges, announced it was laying off 60 associates and 110 support staff. In addition, some partners at the firm were going to be making “meaningful compensation adjustments”.
This was all the more remarkable as in making the announcement the firm’s executive partner, Barry Wolf, referred to its “strong financial position” and that it had “zero debt outstanding”.
News of the cuts sent shockwaves through the legal industry, which has been struggling to adapt in the face of changing client expectations.
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