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UK Lawyers In Trouble
The troubles affecting the financial sector are beginning to spread to the legal industry in the UK.
Large law firms such as Freshfields, Linklaters, Clifford Chance, Allen & Overy, and Slaughter and May have all managed to steer clear of layoffs in previous recessions; however, the current economic decline is taking a much heavier toll on the law firms.
According to The Lawyer magazine, 2,800 lawyers from the UK’s biggest law companies have been made redundant. It seems that many law firms do not think that the same assortment of legal services will be needed when the recession is over.