London’s Freshfields Bruckhaus Deringer informed staff yesterday that salaries for associates will be held at 2008 levels. The pay freeze means associates will not progress through to the next pay…
San Diego, California’s Luce, Forward, Hamilton & Scripps has cut 12 attorneys and 15 staff positions. The cuts came in San Diego and San Francisco, and the transactional practice took…
King & Spalding announced today a significant expansion of its intellectual property practice with the addition of three new partners. The partners, all of whom were previously with Baker Botts…
Lovells has launched a redundancy consultation that could see up to 94 London staff lose their jobs. The month-long consultation, which kicked off yesterday, includes 18 fee earners and six…
We reported last month that former Cohen, Milstein, Hausfeld & Toll partner Michael Hausfeld was ousted from the firm. Now The BLT reports that the renamed Cohen Milstein Sellers &…
Hogan & Hartson has confirmed it is extending a buyout offer to between 250 and 300 of its support staff. Staffers with more than five years of experience will be…
Profits for Los Angeles-based Latham & Watkins fell 21% in 2008, one of the biggest falls so far reported by an Am Law 100 firm. Profits per equity partner fell…
Mauricio R. Celis, the majority partner in former Corpus Christi, Texas, law firm CGT Law Group, goes to trial in Corpus Christi today. Prosecutors are pointing to a little-used law…
Defunct law firm Thelen LLP is telling courts it couldn’t possibly pay its employees accrued vacation, or give 60 days’ notice of impending layoffs. In response to ex-employees seeking damages…
US Securities and Exchange Chairman Mary Schapiro has named David Becker, a partner at Cleary Gottlieb Steen & Hamilton, as chief legal officer and senior policy adviser, one of her…
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Law firms of all sizes are being much more selective about who makes equity partner. Gone are the days where doing good work and putting in your time is enough to get you to a profit sharing level. Today, equity partners almost always have to prove that they can contribute their share to the firm. So what does this mean for associates and how can a two-tiered partnership track be beneficial? With a two-tiered partnership structure, associates get more time to prove themselves and also more time to determine whether partnership is the right goal for them. Two-tier partnerships (non-equity and equity) exist so the firm can train and develop associates into equity partners. The non-equity track to partner at most firms is on average, 6 years long. [...]
May 16, 2013 Read More
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