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Law firms face push to cut fees and staff as clients move to cheaper competitors amid slowdown
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Law firms are under pressure from clients to cut fees and staff headcount amid an economic slowdown and growing recession fears, a new survey showed.
A survey of 200 law firm partners commissioned by litigation funder Harbour found 44% are facing client pressure to reduce fees in the face of increasing costs, while 46% said clients are moving work to less expensive competitors.
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