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.
March 13, 2008 at 12:00 AM
1 minute read
The original version of this story was published on National Law Journal
Early this week, Masood Sohaili, an equity partner at O’Melveny & Myers, took advantage of an early retirement package the firm was temporarily offering. He is 50 years old.
“Everything lined up perfectly,” said Sohaili, who is moving his affordable housing practice to Manatt, Phelps & Phillips as an equity partner. “I was thrilled about the opportunity at Manatt, and I was thrilled that I was able to take the retirement — everything worked out great.”
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