Dequitisation - new word for being fired?

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The suspect Manglish was quoted in a New Lawyer newsletter at the below link.

9 December 2011 | by The New Lawyer Print this article Comments Share this article

LINKLATERS is set to cut more than 30 partners across the network in what is the largest round of layoffs since the restructuring in 2009.

The Lawyer, a British legal magazine, reports the names of several partners who have been asked to leave. It is understood the shake up is taking place mainly in London.

It is understood the restructuring was confirmed to London partners last week. Both exits and dequitisations are possible.

A Linklaters spokesperson told The Lawyer: "We continually look at our business and partner base in the contact of the markets and our clients' needs. A natural part of this process includes some new partner joining and some partners moving on.

"Decisions about partner retirements are entirely personal to the individual partner and it is therefore inappropriate to comment on speculative numbers involved. Where decisions are taken by the firm, they are taken reluctantly and only ever in the long-term interests of the firm."

It was revealed last month that Allen & Overy also started to manage its equity again.

© 2011 Modern Manglish
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