How are large law firms saving money in today’s global economy? Well, moving back office jobs to less expensive domestic locations.
The Boston Business Journal reported the following information, this morning:
When it opens next spring, Bingham McCutchen’s shared-services center in Lexington, Ky., is expected to spark a flood of law firms to move back-office jobs to less expensive locations in an effort to slash costs and pass savings on to clients.
A handful of Boston law firms have already shifted so-called back-office jobs — such as finance, human resources and information technology positions — into one office. Those firms include WilmerHale and Nixon Peabody. The shifting of those jobs is part of the ongoing transformation of law firms, which have been trying to slash overhead and become more efficient after the Great Recession caused a drastic slowdown in legal services.
To read more on the transition to remote areas, real the Boston Business Journal’s Real Estate blog.