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The IBA’s response to the war in Ukraine
Major law firms are preparing or adopting drastic measures to shore up their finances and mitigate the economic impact of the Covid-19 pandemic.
What will the choice of law firms’ management be? Will they in first instance let their young partners and senior associates go to secure the near future? Or will the firms bet on the long-term growth and invest in talent? Why would a law firm choose either option?
At the same time, the Covid-19 outbreak has resulted in a fast-forwarded digitalisation of the legal industry. Would tech-savvy (young) lawyers not be the future of the law firms?