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Jenner & Block Will De-Equitize Partners
Jenner & Block is shifting between 15 and 20 of its equity partners to nonequity status this year with some being asked to leave the firm and a smaller number moving voluntarily toward retirement, according to people familiar with the discussions. The strategy may become more common as firms -- already squeezed by new associate pay raises -- face increasing pressure to keep profits per partner high to attract lawyers with lucrative books of business in a competitive market for lateral hires.