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Revenue and Profits Down at Goodwin Procter
Goodwin Procter’s gross revenues fell 4% in 2009 to $658 million and per partner profits dropped 3% to $1.27 million. Although discouraging, in a year marked by layoffs, deferrals and salary cuts it could have been much worse. The good news is that the firm is not taking it out on its associates, at least the ones that haven’t been laid off. The firm is paying bonuses and although associate salaries have not been restored to where they would be without a freeze, they have been thawed and bumped up one level, without a base salary cut.
Managing partner Regina Pisa expects revenues to stay flat in 2010 with increased work in real estate and real estate capital as the recovery heats up.
Goodwin Procter LLP employs 900 attorneys in Boston, Los Angeles, New York City, Silicon Valley, San Diego, San Francisco, and Washington DC.Revenue and Profits Down at Goodwin Procter by joshua