Revenue Down, Profits Up at Latham Watkins

While gross revenue at Latham & Watkins decreased five percent to $1.821 billion in 2009, profit-per-partner managed to rise by five percent to $1.902 million. Helping to account for the rise in PPP was a big increase in net income from $786 million to $844 million.

The numbers are a big improvement from 2008 when the firm’s profits were down 20.5 percent. That resulted in the layoffs of 190 associates and 250 staff in March of last year. Currently there are 1,880 attorneys at Latham Watkins, down from 2,102. The number of equity partners grew from 436 to 444 and the number of non-equity partners grew from 122 to 131.

Latham & Watkins was founded in 1934 and has 29 offices around the world.