O'Melveny & Myers' offer of early retirement, first reported on The Recorder's Legal Pad blog, is a sign the firm is trying to improve two years of flat profits per partner, observers say. As the push for higher numbers continues, O'Melveny is in the company of many top firms seeking to boost profitability. Partners who are no longer eager to bill 2,000 hours a year, or whose practice areas are less profitable, are being given incentives to retire or find better environments for their specialties.
Early-Retirement Deal May Boost O'Melveny's Profits per Partner
March 13, 2008