Managing Partner » Law Firm Leaders: Overcapacity Diluting Profits

Law Firm Leaders: Overcapacity Diluting Profits

May 13, 2015

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Though leaders of many major law firms report that demand has reached or exceeded pre-recession levels, 61 percent of those surveyed said they believe their firm has too many lawyers, and that has cut into profits. An Altman Weil survey of 320 U.S. law firms found that, in firms with 250 or more lawyers, 74 percent of leaders said overcapacity was diluting firm profitability. The report also says that in many firms, a tier of non-equity partners has become a problematic “warehouse for underperforming lawyers.”

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