Hammered by troubles in the energy industry, Thompson & Knight saw key financial metrics decline in 2020, with revenue down by 10.5% and profits by 16.1%, as the firm also slimmed its lawyer ranks by 9.2%.

“A big part of our practice is energy. When the industry was starting to hurt in the last half of 2019, we knew going into 2020 it was going to be a more challenging year, and then the pandemic … pretty much killed activity in the energy space for several months,” managing partner Mark Sloan said.