Two months into his job as Holland & Knight managing partner, Steven Sonberg has already started putting his stamp on the 1,100-lawyer firm. After laying off 70 staffers to cut costs, he promoted three partners to managing partners in Boston, Washington and Fort Lauderdale, Fla. Now, under pressure from clients to lower fees, he's instituting a new fee structure. The firm is discounting fees for some clients in exchange for "kickers" or "success fees" -- bonuses awarded to the firm when it wins cases.
July 22, 2008 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Just two months into his new job as managing partner of Holland & Knight, Steven Sonberg has already started putting his stamp on the 1,100-lawyer firm.
One of Sonberg’s first orders of business was not particularly pleasant: He had to lay off 70 secretaries and staffers in order to cut costs.
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