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Is the magic rubbing off?

CC partner numbers "Nevertheless, David Childs says the firm is not undertaking a headcount review of the partnership." I just don't see how this can be right - law firms rely on associate leverage - if you assume a leverage ratio of 4:1 then 20 London partners will have to get the boot. Either that or CC partners are willing to bear a huge drop in profitability next year - i.e. another 30-40% after what you reporst will be a 30% drop this year. I don't believe they are willing to do that.

12-Jan-2009

11:07 am