Baker & McKenzie reported Thursday that profits per equity partner at the firm jumped by 13 percent to $1.125 million for fiscal year 2010 — even as gross revenue at the 3,750-lawyer firm essentially was flat, falling 0.4 percent to $2.104 billion. While Baker’s profits reversed course from last year’s 17 percent drop, 2010 marks the second straight year of declining revenue for the firm.
Baker was able to increase profits thanks to several cost-cutting measures, including reducing capacity levels and delaying some capital expenditures.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]