London firm Farrers asks lawyers to bill four hours daily
Farrer & Co is clearly seeing tough times – last week the firm announced that salaries would be frozen, bonuses would be axed, and there may be redundancies on the way. But the most shocking statement to come from the firm, reports RollOnFriday, is a plea for fee earners to try and charge four hours a day.
Four hours a day seems awfully low for a major law firm, but the firm declined to comment on that point, saying instead that the firm had had a good couple of years and hadn't made any recession-related redundancies. That said, "like all firms in the current challenging economic climate, we continue to keep a close eye on both costs and revenue. This is particularly so in the run-up to the end of our financial year and as part of on-going good financial management."
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