Skadden Arps to close Austrian outpost

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  • It surprises me that we haven't seen more office closures. The transportability of international work--as in the example of Skadden's FRA office covering the Austrian transactions--combined with the high fixed costs of the offices lawyers like to have, should make more firms think about the need for a presence. No doubt the global land-grab will soon catch-up with the economic fundamentals and similar decisions will be taken (though one would hope with more foresight than waiting for a retirement). I (like to) think smart firms make these decisions *before* the lease is signed....

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