A recent survey conducted by Wheeler Associates on behalf of The Lawyer news service has revealed that the UK's legal sector has seen widespread redundancies over the past year.
The Wheeler Law Firm Business Confidence Survey was based on interviews with 52 law firm managing partners, selected from a stable of 100 firms. Of those polled, 29% revealed that they had been forced to make staff cutbacks in order to reduce overheads.
However, paradoxically given an overall lack of optimism with regard to the short-term future for the UK economy, 54% of the managing partners questioned suggested that they would be increasing staff numbers over the next six months.
Analysing the survey results for The Lawyer this week, former Andersen Legal managing partner, Tony Williams explained that: 'Sacking people and recycling money is hardly a sign of an economy set to stage a rapid recovery.'
Concerns for the future expressed by the managing partners who participated in the survey included increased competition from other law firms, and downward fee pressure from clients.
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