Signs o the times? DLA Piper asks Partners to Contribute Capital.

I'm in Minneapolis, so the reference to Prince seemed appropriate.  

DLA Piper has asked partners to contribute up to $150,000 to shore up its balance sheets, according to this report.  Some said it was good, others bad, some characterized it as a pay cut, others as a prudent move... perhaps it's a sign o the times, however we characterize it.

Bryan Cave says no raises, no bonuses, but no layoffs, according to this article.

And

Mayer Browns lays of more than 30, according to this

Now, how do I write a blurb using "Purple Rain..."

Comments

[Patrick S. O'Donnell]

Law firms as not-quite-yet worker cooperatives: intriguing.

[Judith]

As far as I can tell, they actually offered full partnership to a number of income partners (e.g. non-equity partners), if they paid up. They weren't asking existing equity partners to pay more money.