From Law.com: new partner candidates may have a tough time next year.
New partner announcements are starting to come in, and things aren’t looking so good. Thirteen Am Law 200 firms in California have announced new partners so far, and eight of those firmwide classes are smaller than last year.
“I anticipate a smaller class this year than last, and it’s a direct response to the decreased demand for legal services in the world,” said Keith Wetmore, chairman of Morrison & Foerster, which hasn’t yet announced its new partner class.
Chicago’s Mayer Brown and McDermott, Will & Emery named 43 and 42 new partners last year, respectively, but both named only 27 this year. Classes are also smaller at Cooley Godward Kronish; Fenwick & West; Gibson, Dunn & Crutcher; Proskauer Rose; Wilson Sonsini Goodrich & Rosati; and Weil, Gotshal & Manges.