Threatened by hits to revenue and profits, Am Law 100 firms are shedding unproductive partners to feed more money to high performers and prevent other firms from poaching their most valuable talent.
Am Law 100 leaders and firm consultants who are observing the year’s lateral moves say that, in an effort to “right-size” during economic turmoil, firms are “counseling out” equity and nonequity partners, many of which are in the hard-hit corporate space. Some firms regularly do this every year, but sources say big firms are picking up the pace in 2020.
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