McDermott Will & Emery business contracts
McDermott Will & Emery posted financial results that indicate its business is contracting. Last year, the firm posted weak growth in its revenues, 2.2 percent growth. This year, the firm slid backwards, falling one percent from last years $900m to $891.5m this year.
Although revenues fell this year, the firm still posted gains in profit per equity partner, which inched up 3.3 percent from $1.53m to $1.58m.
A downward trend that continued was the total number of lawyers decreasing at the firm. Last year the number dropped below 1,000. It appears this year, the number has fallen to 981.