Obermayer managing partner Mathieu Shapiro was interviewed by The Legal Intelligencer in connection with the absorptions of small firms by midsize and large firms as uncertainty and economic pressures continue fueling a trend towards consolidation. The article, titled “Expect More Small Firm Absorptions as Economic Pressures Mount,” published on December 20, 2022, explores the reasons for the mergers, such as administrative burdens, difficulty with staffing and talent, desires by the larger firms to expand into new practice areas and an effort to increase efficiencies.
Mathieu shared that there’s been a lot of uncertainty coming out of the pandemic, and that has been a factor in the conversations he’s had with small firm leaders over the past few years.
“They are having trouble finding good help, and they are feeling very cautious about their lease obligations, especially as we figure out what’s a permanent change from the pandemic and what isn’t,” Mathieu said. “Space needs for some of them may be a more acute problem than it is for us. We will always have a robust administrative presence in terms of marketing, IT and billing. It’s not a question for us. But for some of those smaller firms, how you do those and what space you need is less clear.”
Original source can be found here.