Nixon Peabody Slashes Salaries

Nixon Peabody, which laid off 20 attorneys and 36 staff in February, is now cutting salaries.

All associates, including incoming and summer associates, will see a reduction to $145,000 in Boston, Washington DC, New York, Chicago and California; less in other locations. There will also be additional performance-based cuts.

Meanwhile, associates can look forward to merit-based bonuses, based on such criteria as hours worked, new business brought in, community leadership, and “extraordinary contributions to the welfare and advance[ment] of the firm.”

In other words, management will pay whatever they want to pay, with criteria that squishy.

Nixon Peabody LLP is one of the largest multi-practice law firms in the US, with offices in 17 cities in the United States and one in London, and more than 700 attorneys in 25 major practice areas.

• DLA Piper Slashes Salaries
• Davis Wright Cuts Associate Salaries
• Update: Hogan & Hartson Reduces Pay for Certain First-Year Associates
• Last Minute Deferrals at Nixon Peabody
• Nixon Peabody Lay Offs – Shhhh

Posted by Erik Even on April 27, 2009. Filed under Home,Law Firm News,Legal News. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry