PUZZLE PIECES – Part 9

Q: “That’s a good way to put it. ‘Everything is relative,’ as you say. In the case of your firm, keeping average equity partner profits above $2 million required you to take a number of cost-cutting actions in 2008, right?”

Partner: “Yes.”

Q: “According to Law.com, in March 2008, you laid off 13 associates in the finance and real estate practice and then later gave them the option of taking temporary positions in other practice groups?”

Partner: “That was the report.”

Q: “In December 2008, you cut 72 U.S. adminsitrative positions and started the termination process for another 15 staff positions in London?”

Partner: “That was the report.”

Q: “And you managed to stay above $2 million in average equity partner profits for 2008, didn’t you?”

Partner: “That’s what the American Lawyer  reported. But look at 2009 if you want to understand the challenges we faced in trying to keep our position in the Am Law 100 rankings.”