Simmons to cut 11 equity partners
Simmons & Simmons is to cut 11 partners from its equity as part of a dramatic drive to improve profitability, the firm announced last week. The top 15 UK firm will cut 12% of its 94 London-based equity partners by the summer in a bid to boost its average partner profits from last year’s figure of £300,000 up to a target of £400,000 by the end of the next financial year. Simmons’ management is currently negotiating with the affected partners.
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