I just left the Council meeting of the North Carolina Bar Association Law Practice Management section. Among other things, we discussed the state of the economy and it’s impact on our firms. The Council has representation from the smallest firms (solos) to the largest national and international firms. It’s a fascinating mix.
The general sense is that things are bad for nearly all firms of every size. Some firms are laying off folks. Most firms have hiring freezes and salary freezes. Some are not filling open positions. Some firms have eliminated summer clerk programs and many are not interviewing for fall positions.
One interesting observation was that employees appreciate the hiring freeze and the salary freeze because they perceive these steps as proactive measures to protect their jobs. Employees are paying attention to the news and are keenly aware of the situation.
Most firms are very carefully scrutinizing all of their costs with an emphasis on cutting marketing expenses and payroll. Most of the firms have refrained from increasing rates as they usually do in January. The mood during this discussion was pretty heavy and dark.
It’s one thing to read about the adjustments being made in the AmLaw 100. It’s different, and more powerful, to hear about the impact of the economy on firms in my local area. It’s ugly out there.
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Lee Rosen has practiced family law for more than twenty years. With three offices, 
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