Jones Day demotes three partners in London
Jones Day has demoted at least three partners to Of Counsel roles in London over the course oft he last 18 months. The firm made similar moves in 2009, when five partners were demoted.
As RollOnFriday points out, partners are regularly moved down onto lower compensation for myriad reasons, but suffering a demotion out oft he partnership entirely is fairly rare. It means that the affected lawyers will have been given new business cards, new email signatures, and will have had to explain to their business associates and families that they have been demoted.