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 and John McKenzie. One of the first law firms to be truly global, it employs more than 3,900 lawyers in more than 70 offices in 39 countries.