Greetings in house attorneys...in the mood for some good news? Then you had better head elsewhere. Corporate Counsel just released it's 2010 Law Department Metrics Benchmarking Survey, conducted by ALM Legal Intelligence. According to the survey, in house departments are up against shrinking staff, budgets and resources, while being expected to fulfill the demands of workload increases.
"Law departments have faced increased workloads during past downturns, but this recession is clearly different," said Anthony Paonita, editor in chief of Corporate Counsel. "Our latest survey demonstrates that in-house counsel, and their outside firms, are not immune to the ongoing, company-wide budget cuts the current economy has forced on virtually all corporations across the country."
A few of the more interesting figures from the study:
The survey reported that nearly one-third of in house departments had their budgets cut in 2009 and one-fourth had the size of their legal team reduced. If you're still holding out hope for positive news, the survey did note that the reductions were less than in 2008. Nevertheless, the figures demonstrate that in house teams are still very much feeling the effect of the recession.