More annual results rolled in recently and the silver lining is that it’s not all bad news.
At Covington & Burling, revenue increased by 10% to $583 million and profit per partner declined by 8% to $1.2 million, according to The Blog of Legal Times. Lateral hires and an increase in overall headcount combined with a lack of layoffs marked the year (as a casual fact-check, the firm doesn’t even appear on Law Schucks layoff tracker—score!).
At Debevoise & Plimpton, another firm that survived the year without layoffs, revenue fell by 12% to $670 million last year and PPP dropped 16% to 1.87 million, says Am Law Daily. The firm blames the double decline on the downturn, as its corporate litigation practice slowed and the Siemens AG investigation ended.
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