Demand For Corporate Work Expected To Drop By More Than 20% By Year’s End

// Today’s economically uncertain times have caused a great deal of unrest in the corporate world. There’s a constant barrage of conflicting reports coming out, and despite everything still being up in the air, the default setting for most businesses right now will be risk aversion.

It will be up to lawyers to instill confidence by guiding clients through the months and years ahead with accurate insights on economic activity, new legislation and regulations, and worthwhile growth opportunities.

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— Dylan Brown, the editor of a new report by LexisNexis Legal & Professional, in a statement on how lawyers can handle the expected continued decline in demand for corporate legal work. According to the report, it’s predicted that demand for corporate work will drop by about 22% by the end of the year, compared with what demand looked like in 2021. The report also predicted that corporate work will rebound in 2023.

Staci Zaretsky is a senior editor at Above the Law, where she’s worked since 2011. She’d love to hear from you, so please feel free to email her with any tips, questions, comments, or critiques. You can follow her on Twitter or connect with her on LinkedIn.

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Biglaw, Corporate law, Layoffs, Quote of the Day