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.
March 01, 2010 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
Correction: An earlier version of this story mistakenly noted that revenue per lawyer (RPL) declined 6.7 percent in 2009; in fact, RPL increased by that percentage.
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.
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