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Law Firms Across the Pond Practicing Frugality

A few weeks ago, I posted about some of the cost cutting measures that top U.S. law firms have implemented as a hedge against declining revenues. Now, their colleagues across the pond are pinching pennies as well, reports The Times. According to a new survey by Legal Business, a monthly trade magazine, firms are cutting costs through frugal measures such as eliminating sandwiches from lunchtime trainings, traveling second class and canceling Christmas parties. Another firm reduced its costs by using one color of files for client work. Even with the reductions, London firms are bracing themselves for the worst as their half-year financial results (through October 31) are released.

Posted by Carolyn Elefant on November 4, 2008 at 12:17 PM | Permalink | Comments (2)

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