The first year when law firms no longer reported 20-30% turnoverincrease also slowed down personnel turnover, so that lawyers areno longer willing to abruptly leave for a higher salary, being morecautious in making decisions that may have an impact on theircareers. Moreover, not all firms continue to hire, so that thereare fewer options. "The times when layers would leave for 500 eurosmore are gone. (...) There are no longer as many lawyers leavingbecause there's a rush only for very good people, who leave onlyfor much more money and if they see themselves having a future atthe new firm. We're receiving a lot of CVs during this period, fromall firms, including top ten firms," says Mugur Filipescu, managingpartner of Voicu Filipescu law firm, a top ten player on themarket. In 2009, the number of lawyers remained relatively steady,around 40 people, but the falling number of deals drove thecompany's revenues down 10%, with the decline however offset by thenewly set up firms within the consulting group. "We managed to keepour revenues at the level of 2008, around 4.6-4.7m euros, with thehelp of tax, intellectual property and restructuring firms.Strictly for the law firm, revenues were 10% lower," says DanielVoicu, the other managing partner of the law firm.
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