Freshfields Germany partners at risk in global profitability drive
Magic circle firm to cut Germany-based partners' profits as part of a global drive to match its US rivals
December 09, 2015 at 07:27 PM
5 minute read
Freshfields Bruckhaus Deringer is cracking down on partner performance in Germany as part of a global drive to boost firm-wide profitability, with partners in the country set to see their profit share reduced.
Legal Week understands the firm is looking to remove up to 500 points from the partner profit distribution in Germany – the equivalent of around 10 partners at the top of the lockstep.
Freshfields operates a 12-year lockstep system running from 17.5 points to 50 points. It is not yet clear if the firm plans to cut partner numbers, de-equitise partners or simply cut their individual point share to boost profits.
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