Hogan & Hartson’s revenue and profits fell flat in 2008, after a record year in 2007.
The firm’s gross revenue rose 4.8% to $922.5 million, but the firm’s revenue per lawyer fell 2% to $833,000. Hogan’s profits per partner fell 1.69% to $1.17 million.
In 2007, the firm reported gross revenues of $880 million and profits per partner of $1.19 million.
The boom in business in 2007 was driven largely by merger & acquisition work, which fell off dramatically at the end of 2008.
Hogan gained 7% in total lawyer headcount in 2008, up to 1,107.
This month the firm offered voluntary buyouts to 240 staff members.
Hogan has also pushed back the start date for this year’s incoming associate class to November 30th.
Founded in 1904, Hogan & Hartson is the oldest major law firm headquartered in Washington, DC. It is a global firm with more than 1,100 lawyers in 27 offices worldwide, including offices in North America, Latin America, Europe, the Middle East, and Asia.
Via BLT.