Partnership: Under pressure
For the first time in many of their histories, UK law firms are facing the prospect of laying off partners in order to cope with tough economic conditions. But are they succeeding in biting the bullet? Harry Keegan reports
While some firms have hit the headlines since the beginning of the current economic slowdown for parting company with large numbers of partners, others have got on with the process of managing out and de-equitising partners with little fuss.
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