In-house legal departments slash spending
A new survey reveals that in-house legal departments have cut spending for the first time in a decade. The survey, conducted by legal consultants Hildebrandt Baker Robbins, showed that total legal spending was down 1 per cent overall in the U.S. and 2 per cent worldwide.
The results represent a significant reversal of former trends: until now, U.S. legal spending had increased each year between 5 and 9 per cent.
The news is even worse for large law firms that depend upon briefs from in-house departments. The survey found that outside counsel spending dipped 5 per cent in the U.S. and 6 per cent worldwide.
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