Not a new phenomenon but one that seems to be in vogue
for small to medium size firms lately is jettisoning of senior
lawyers and not always on the firms' initiative!
There is lots of speculation of reasons why the increase, that
while they run the gambit of logic are for the most part driven by
perspective:
Senior partners losing faith in the future of the
firm for several reasons, including:
- A dearth of imminent leadership to
ensure the firm is positioned to move forward.
- An eroding client base that makes
current income levels unsustainable.
- A sudden self-awareness that their
historic leadership has resulted in a firm with an imbalance
between leading "grinders" but skillful
"finders."
