Report this comment to a moderator

Linklaters to axe up to ten per cent of partnership in new restructuring

The worst part of this at all these "leading" firms is the line Partners are expected to take the pain whilst those in management remain immune from any remuneration cut - heaven forbid indeed they often get rises/bonuses at times like this - they generate no fee income and never have to deal with clients in a real life fee earning situation when the pressure is on - what would be welcome would be to see some leadership being shown by those in management in all major firms accepting they can no longer earn the vast rewards they have to date and that when market condiitons deteriorate the answer is not just to bin partners (many of whom will have worked incredibly hard fee earning for many years at their respective firms and generated significant profit and advancement for those firms). One of the biggest issues many firms face is the immunity and arrogance of the management teams and the inability for them to be called into account. I for one hope the new world will see management teams at all law firms called into account to justify their reward and position and then for there to be some appropriate "pain" taken at the management level too. Now that would be a novel idea wouldn't it ?!!

8-Dec-2011

4:30 pm