Legal Industry News
February 8, 2010
Howrey Cuts More Attorneys & Staff
Howrey is cutting 29 associates and 65 staffers from its payroll – the cuts affect the firm’s 10 U.S. offices, but none of its overseas offices. In the last 18 months, the firm has cut 25 secretaries, 10 associates, and has sought capital contributions from its partners. Last summer, the firm announced that its incoming first-years would participate in a two-year apprenticeship program so they could actually learn how to be lawyers before they began handling client matters at standard rates.
In 2008, Howrey reportedly had gross revenues of $573 million, with profits per partner of $1.3 million, posting a 15.2%…
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