Dewey & LeBoeuf saw a dramatic drop in gross revenue in 2009 while profits per equity partner moved up 3.4 percent, the result of a 10 percent decrease in equity partner headcount, according to numbers released by the firm Friday. The firm attributes the substantial drop in revenue to a sizable decrease in headcount, as well as to the overall downturn in business activity. But intensive cost-cutting measures and 20 fewer equity partners helped to mitigate the effect on average profits earned by equity partners.
Revenue Falls 11 Percent, Profits Rise at Dewey
The American Lawyer
March 1, 2010