Phoenix, Arizona’s Snell & Wilmer, which in May laid off between 30 and 40 staff members, has now cut associate salaries by 10% across the board.
The pay cuts are effective July 15th. The firm promises to pay performance-based bonuses later this year.
Snell & Wilmer was founded in 1938 by Frank Snell Jr. and Mark Wilmer. The firm is the largest in the state of Arizona and the 99th largest in the US by number of lawyers, according to the National Law Journal’s 2007 statistics. The southwestern regional firm, which has about 1,000 employees, also has offices in seven other cities in Arizona, California, Nevada, Utah and Los Cabos, Mexico.