In the current recession, partners whose practices depend on transactional areas of the law have experienced a significant decline in business. Some firms may have the resources and client work to carry them. Others may not. “Re-engineering”underutilizedpartners,al-though not the easiest solution, could be the least objectionable. Your firm may be faced with the dilemma of dealing with underutilized partners for a couple of reasons. Perhaps the firm recently lost a large client, and now there’s not enough of a particular type of work to go around. Or maybe the firm made a strategic decision to alter its practice areas, and certain partners work in a department that will cease to exist.
As difficult as it may be, given friendships among partners, the firm needs to come to grips with the fact that it probably can’t afford to keep those partners around at their current status. The options are few:
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