Extract from Zach Warren’s article “COVID-19 Has Brought Unprecedented Upheaval to E-Discovery Industry”
The economic impact of the COVID-19 pandemic, particularly in the U.S. has been stark. Industries ranging from hospitality to retail to travel have seen layoffs and furloughs as an entire economy shifts to stay home. A report from consultancy McKinsey & Co. estimates that the U.S. economy may be in a state of recovery until 2023.
The legal world has certainly not been immune to these changes. A number of law firms and legal-related businesses have joined the rest of the economy in pay cuts, hiring freezes and layoffs. One would expect that these changes will still be flooding in over the next couple of weeks as well.