Baker & McKenzie reports its average profits per equity partner in fiscal 2008 fell 17%, to $992,000. Revenue was down 3.5% to $2.11 billion. The firm, which in April laid off 38 attorneys and 86 paralegals, has taken a number of other cost cutting measures. Baker & McKenzie was founded in Chicago in 1949 by Russell Baker [...]
Continue reading...Friday, July 31, 2009
Law firm SJ Berwin has announced that profits per equity partner, which were £801,000 ($1.33 million) for 2008, fell to £410,000 ($680,000) for 2009. The firm saw revenue fall 14% to £184 million ($305 million). The other British firms that have seen the largest drop in profits are Travers Smith, Clifford Chance, Ashurst and Berwin Leighton Paisner.
Continue reading...Friday, July 3, 2009
Florida’s Ruden McClosky, which laid off two lawyers and 18 staff in May, and cut associate and non-equity partner compensation in June, has laid off an additional eight lawyers. The layoffs affected associates at the firm’s litigation, corporate and land-use practices. Ruden’s gross revenue fell by 9%, to $85.3 million in fiscal 2008. Fort Lauderdale, Florida’s Ruden McClosky [...]
Continue reading...Wednesday, March 18, 2009
Buchanan Ingersoll & Rooney saw its 2008 gross revenue fall by 3.3%, from $282.1 million in 2007. The Pittsburgh, Pennsylvania-based firm increased its revenue per lawyer by 2% from $554,000. The profits per equity partner fell 1.2% dip from $570,000. The average compensation for all partners decreased by 3.6% from $445,000 to $429,000. The firm expects a [...]
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Saturday, August 15, 2009
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