Linklaters may shear 35 from equity partnership
Linklaters is set to take the shears to its partnership for the second time in three years, and has announced a major restructuring to its London partners. Some within the firm predicting up to 35 departures from the equity partnership globally, and London is expected to be most affected by the changes, losing up to 20 partners.
The move is the first restructuring since the 2009 shake-up that saw 35 partners leave the firm, as well as substantial staff redundancies.
Linklaters is reportedly in discussions with underutilized associates in transactional practices affected by the economic downturn, and hopes to shift them to busier groups in order to avoid layoffs.
Managing partner Simon Davies said: “We continually look at our business and partner base in the context of the markets and our clients’ needs. A natural part of this process includes some partners moving on.”
He added: “Decisions about partner departures are entirely personal to the individual and it is therefore inappropriate to comment on speculative numbers involved. Where decisions are taken by the firm, they are taken reluctantly and only ever in the long-term interests of the firm.”
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