Hammonds is set to cut around 10% of its partnership, as the national heavyweight becomes the latest top 50 UK law firm to react to the current economic conditions. The national firm is in the process of cutting up to 20 partners from its fixed share and equity ranks. A handful of partners will also be affected by a de-equitisation programme being rolled out at the same time in an attempt to deal with underperformance, especially at the top of the partnership.
February 26, 2009 at 10:47 AM
1 minute read
The original version of this story was published on Legalweek
Hammonds is set to cut around 10% of its partnership, as the national heavyweight becomes the latest top 50 UK law firm to react to the current economic conditions.
The national firm is in the process of cutting up to 20 partners from its fixed share and equity ranks. A handful of partners will also be affected by a de-equitisation programme being rolled out at the same time in an attempt to deal with underperformance, especially at the top of the partnership.
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