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Partner Cuts on the Rise

From the ABA Journal:

Few U.S. law firms are acknowledging partner cuts, but they are happening and could gather steam if firm leaders foresee a long recession.

Consultants tell the Daily Journal that partner terminations are on the upswing and, if the downturn continues, they will likely be made in a proportion that is at least half that of associate layoffs...

Tony Williams of London-based Jomati Consultants told the publication that firms are likely considering partner cuts to preserve associate-to-partner ratios. A firm that has laid off 10 percent of its associates will consider cutting at least 5 percent of its partners--and probably more, he said.

Source: Out of the Jungle