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by Vault Law Editors | November 17, 2008

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Here is a very recent survey excerpt from a New York associate at a UK-based firm:

 

“Business at [my firm] has been extremely slow for at least two years. The [New York office] has brought in a large number of partners in that time in an attempt to expand their practice areas, but so far this has not produced significant additional business. This also makes the firm very top-heavy, with little room for advancement from within. Associates and Of Counsel have been leaving in a steady stream, and there have been rumors of layoffs.”

 

(As far as I can tell, reports or even rumors of layoffs at this firm have not been published anywhere.)

 

In contrast with the foregoing firsthand account, here is an article from article from the Times (London) about the just-announced and surprisingly positive half-year revenue numbers for the larger UK firms.  Our survey respondent’s firm is prominently featured.  Any guesses?  (Hint: “15%”)

 

This dissonance could mean some combination of three things:  a.) our correspondent is wrong; b.) New York is just out of the loop these days; and/or c.) those half-year revenue numbers are a swan song.

 

                                          -posted by brian

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