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Despite Cuts, Fenwick Sees Revenue Growth and Remains Bullish on Tech Business Bounceback

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Despite Cuts, Fenwick Sees Revenue Growth and Remains Bullish on Tech Business Bounceback



Despite Cuts, Fenwick Sees Revenue Growth and Remains Bullish on Tech Business Bounceback | The Recorder

















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https://www.law.com/therecorder/2024/03/19/despite-cuts-fenwick-sees-revenue-growth-and-remains-bullish-on-tech-business-bounceback/

Despite Cuts, Fenwick Sees Revenue Growth and Remains Bullish on Tech Business Bounceback Richard Dickson of Fenwick & West. Courtesy photo

NEWS

“Some uncertainty remains. But it will come back, and come back stronger,” said firm chair Richard Dickson about the firm’s scope of work. “We just don’t know exactly when.”

March 19, 2024 at 06:49 PM

5 minute read

Andrew Maloney

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What You Need to Know

  • Fenwick, which announced a reduction of nearly 10% of its professionals a month ago, still grew by about 3% across several categories in 2023.
  • The California-headquartered firm grossed nearly $770 million, up from $750.4 million the previous year.
  • The firm’s equity and nonequity ranks expanded. And the firm’s chair is expecting 2024 to be ‘another growth year.’

While Fenwick & West announced layoffs amounting to nearly 10% of its professionals a month ago, the law firm still grew by roughly 3% in revenue, revenue per lawyer and net income in 2023.

The California-headquartered firm grossed nearly $770 million, with revenue per lawyer rising to $1.6 million and net income reaching $365.1 million.

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