Data compiled by French publication Juristes Associés looked at the largest 100 firms operating in France by size and the 50 firms with the highest turnover. The overall picture for 2014 was one of health and expansion, with 71 of the 100 firms seeing a rise in headcount and only nine out of the 50 firms reporting a drop in turnover.
Shrinking Magic Circle
According to the report, some of the largest decreases in headcount occurred in magic circle firms. Clifford Chance’s fee-earner headcount had fallen by 17.8 per cent, from 219 in 2013 to 180 last year. Allen & Overy saw the departure of 2.6 per cent of its fee-earners, while Freshfields Bruckhaus Deringer’s fee-earner numbers fell 19.3 per cent.
Falling revenue
The report said French revenue had also fallen at Freshfields, though only by 0.3 per cent. Other firms to have experienced falling revenue included Bakers, where turnover fell 6.2 per cent from €85m to €79.8m; Norton Rose Fulbright; Mayer Brown; and McDermott Will & Emery. Source: The Lawyer
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