Tensions Ripple Through Partnerships As Law Firm Culture Shifts to Bottom Line Focus
"When partners see their peers are being treated that way by leadership, it typically results in less loyalty across the board," noted one recruiter about the effects of de-equitizations.
September 03, 2024 at 05:00 AM
6 minute read
Law Firm ManagementPartnership tensions are erupting, as law firms increasingly move to treat partners less like "family" and more as co-workers, industry sources say. The tensions come amid firm moves to de-equitize partners, adjust compensation systems, add and expand non-equity tiers, and require partners to formulate business plans, as firms focus more on profit and attorney performance.
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