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White & Case Profits Fell in 2008, Despite Layoffs

New York City’s White & Case reports it profits per equity partner fell by 5% in 2008 to $1.6 million. The decrease came despite a 7% rise in revenues to $1.467 billion.

The firm laid off 70 associates last November.

Revenue per lawyer fell from $720,000 to $705,000, and continues to lag behind many Am Law 100 competitors such as Latham & Watkins, Mayer Brown, and Orrick, Herrington & Sutcliffe.

In December the firm announced a reorganization of its management structure, following a four month review of its operations by management consultants McKinsey & Co. The changes mean that the firm is now run more closely along regional lines, rather than by office, and has placed renewed focus on 16 global practice groups.

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There are no plans for additional layoffs.

Founded in 1901, White & Case LLP is a leading global law firm with 2,300 lawyers in 38 offices in 25 countries, and a total staff of more than 4,800.

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