- Survey Warns of Pending Partner Bloodbath: Over 33% of Responding Law Firms May De-equitize
Survey Warns of Pending Partner Bloodbath: Over 33% of Responding Law Firms May De-equitize
Posted Jun 23, 2010 6:47 PM CDT
By Martha Neil
Accompanying bad news that more than 25 percent of law firms responding to an Altman Weil survey de-equitized partners in 2009 is worse news:
More than 33 percent of the respondents intend to or might de-equitize partners in 2010, reports the New York Law Journal in an article reprinted in New York Lawyer (sub. req.).
"We are already seeing a focus on reductions of chronically unproductive partners and nonequity partners who are unable to contribute at a high level," the report states.
Additional details about the survey are provided in a previous ABAJournal.com post: