Firms Target Equity Partners Amid Recession Woes

Law360, New York (August 12, 2009, 10:43 PM EDT) -- While law firm associates have been hobbled by the recession through layoffs and pay cuts, significant numbers of partners have also been hit as firms strip them of equity status and force them to join the nonequity ranks, according to legal industry experts.

De-equitization isn't a new tactic, consultants said, but law firms have increasingly pushed equity partners down a notch as firms face hard decisions about the bottom line and reassess every aspect of their business model.

Transitioning equity partners to nonequity roles can leave...
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