Cuts came in all offices except Palo Alto and New York. Those affected are getting severance packages, health care assistance and outplacement.
In addition, Howrey is demanding that non-equity partners contribute capital; and all partners, equity and non-equity, will be able to contribute voluntary capital, and some have already agreed to do so. The firm’s press release hints that these “voluntary” contributions may not be so voluntary.
Additionally, all partners, Equity and Non-Equity, will now able to contribute voluntary capital and several have already agreed to do so. All these are signs of their commitment and dedication to the Firm and its plans for growth.
Huh. Better cut that check.
Howrey LLP was founded as Howrey, Simon, Baker, & Murchison in 1956, and was the first national anti-trust law firm. It has more than 700 attorneys in 17 locations worldwide.