Partner Compensation Cuts Could Become The Norm

Law360, New York (March 16, 2009, 12:00 AM EDT) -- In an effort to “weed out” low-performing partners, Dewey & LeBoeuf LLP has reportedly cut compensation for around one-fifth of its partners by as much as 80 percent in the past 15 months. Legal experts told Law360 that in this unprecedented economic climate, the practice could become more common.

Dewey & LeBoeuf confirmed for The Am Law Daily on Friday that it had reduced compensation for 66 partners, which firm chair Steven Davis characterized as part of the firm's strategy of replacing less-productive partners with higher-performing...
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