- Mayer Brown set to cut up to 20 jobs in City
Mayer Brown is set to cut up to 20 jobs in its London office, with both lawyers and support staff affected.
The firm would not confirm the breakdown of legal and non-legal staff or the practice areas affected by the cuts. However...
- Dewey moots restructuring to prepare for possible takeover
Dewey & LeBoeuf’s senior management is working on a major restructuring of the embattled US firm that could see it prepare the business for a takeover or shut down its international network.
Partners in the firm’s bankruptcy...
- Incoming Dewey chiefs agree profit caps as firm renegotiates guarantees
Five partners appointed to Dewey & LeBoeuf’s new senior management team have agreed to take profit share cuts of up to $3.5m (£2.2m) per year each as the US firm renegotiates its deals with star partners on guarantees.
- Simmons bids to revive profits with partnership restructuring
Simmons & Simmons is restructuring its partnership in an effort to boost profitability, with around 10% of the firm’s equity to be affected.
Around 12 equity partners are likely to either be asked to leave the firm altogether,...
- Linklaters extends restructuring with up to 70 partners facing the axe
Linklaters’ partnership restructuring is set to be more widespread than previously thought, with partners higher up the food chain now bracing themselves for a cull.
Sources close to Linklaters suggested that the firm is set to axe up to...
- DLA Piper delays consultation on partnership restructuring
DLA Piper has pushed back plans to consult its partners over broad-ranging proposals to overhaul its partnership and remuneration structure.
The firm has opted to delay sounding out its partners on proposals put forward by consultants at...
- CC annual report reveals £60m cost of firm restructuring
Clifford Chance (CC) spent almost £60m during the last financial year on its redundancy programme and partnership restructuring.
Financial information contained within the firm's 2008-09 annual report released today (21 September)...
- A&O annual report shows £40m fall in cash reserves in wake of firmwide restructuring
Allen & Overy's (A&O's) limited liability partnership (LLP) cash reserves dipped by £40m during the last financial year as a result of the magic circle law firm's restructuring.
Details of the LLP's cashflow contained within...
- Clifford Chance's PEP slides to £733,000 at end of turbulent year
Clifford Chance's average profit per equity partner (PEP) figure plummeted by 37 per cent in the last financial year, down to levels last seen at the firm nine years ago.
After hitting a PEP of £1.15m in the 2007-08 financial year,...
- Banking & Finance Special Report: Crash and learn
As financial institutions look back at their restructuring practices, it has become clear that lessons need to be learnt from past mistakes.
The explosion of restructuring work since the start of the year means an increasingly large...
- Dentons accounts reveal £7m bank loan and £3m cost of restructuring
Denton Wilde Sapte increased its bank debt to £15.9m over the last financial year after taking out a £7m loan, the firm's limited liability partnership (LLP) accounts have revealed.
Information contained within the 2008-09...
- Law firms ready to ring in the changes for uncertain 2010
Surviving recession still top of agenda; diversification, restructuring and mergers could save the day
Leaders at the top firms have warned that the legal sector is not quite clear of the worst ravages of the recession as it moves...