Wolf Block is cutting associate pay by 10%, which will go into effect at once.
Other firms have frozen salaries for 2009, but Wolf Block appears to be the first US law firm to cut salaries in response to the economic meltdown.
WolfBlock LLP, formerly Wolf, Block, Schorr & Solis-Cohen, is a law firm and lobbying group based in Philadelphia, Pennsylvania. The National Law Journal ranked WolfBlock the 143rd largest firm in the US, and the 10th largest in Philadelphia, by number of attorneys. The firm is best known for its lobbying and government relations practice, as well as for being one of the oldest law firms in Philadelphia.
In 2008, WolfBlock had planned a merger with the Miami, Florida’s Akerman Senterfitt, to create a single 800-lawyer firm. But in August, the two firms released a joint statement explaining that the merger had been put on hold due to “a client conflict that cannot be discussed publicly.”
Posted by Erik Even
on February 13, 2009. Filed under Home,Law Firm News,Legal News.
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Anonymous
August 11, 2009 at 7:16 am
Whoever decided to use the word “Slashes” needs to calm down and come back to earth. A 10% reduction is not “slashing” and suggesting that it is misleading, sensationalistic and overly-dramatic. In these days where journalists are frequently attacked unfairly, it does not help the cause to see this kind of hyperbole when a simple reporting of the facts would suffice.
Erik Even
August 11, 2009 at 9:23 am
Hwoever [sic] decided to use the word “Slashes” needs to calm down and come back to earth.
“Slash” means “to reduce or lower.” Ten percent is both a reduction, and a lowering.
Um, are you going around criticizing the wording in stories about dead law firms? Maybe you should find a hobby. Or at least take your meds.