Kirkland & Ellis, the largest law firm in America by revenue, is implementing new policies to try to bring more young attorneys in the door and to prevent its most seasoned attorneys from walking out.

It's doubled the size of its referral bonus, but the firm will also now withhold the year-end pay from partners who leave Kirkland in the middle of the year. Are these measures signs that the legal market has rebounded from its slump in late 2022?

Our guests on today's On The Merits podcast, Bloomberg Law reporters Roy Strom and Meghan Tribe, talk about why Kirkland is taking these moves, what all of this means for the legal industry, and whether Big Law firms are finally breaking their endless cycle of over-hiring and under-hiring.

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