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Hogan & Hartson’s revenue and profits fell flat in 2008, after a record year in 2007.
The firm’s gross revenue rose 4.8% to $922.5 million, but the firm’s revenue per lawyer fell 2% to $833,000. Hogan’s profits per partner fell 1.69% to $1.17 million.
In 2007, the firm reported gross revenues of $880 million and profits per partner of $1.19 million.
The boom in business in 2007 was driven largely by merger & acquisition work, which fell off dramatically at the end of 2008.
Hogan gained 7% in total lawyer headcount in 2008, up to 1,107.
This month the firm offered voluntary buyouts to 240 staff members.
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Hogan has also pushed back the start date for this year’s incoming associate class to November 30th.
Founded in 1904, Hogan & Hartson is the oldest major law firm headquartered in Washington, DC. It is a global firm with more than 1,100 lawyers in 27 offices worldwide, including offices in North America, Latin America, Europe, the Middle East, and Asia.
Via BLT.
