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Florida’s Ruden McClosky, which laid off two lawyers and 18 staff in May, is cutting associate and non-equity partner compensation by 8%.
Equity partners are not likely to receive the holdbacks of 18% of their pay.
The firm is struggling, as it relies heavily on real estate transactional work, which has been negatively affected by the global economic meltdown. Ruden McClosky has been shedding attorneys since last year.
Fort Lauderdale, Florida’s Ruden McClosky is a law firm specializing in intellectual property law, litigation, banking & finance law, and general corporate law.
