By: Elizabeth Olson, The New York Times

November 21, 2016

To make partner at a big law firm is to grab a brass ring of prestige, wealth and security.

Now, for some partners, however, that ring is being yanked away.

Wrestling with a difficult market, some big law firms are demoting partners — meaning they are no longer owners in the firm who share in annual profits.

Law Firms, Struggling Financially, Cull Partner Ranks