Boston’s Mintz Levin, which just laid off an undisclosed number of attorneys and staff, has cut associate salaries. The salary reductions are based on hours billed over the last 12 months — associates on track for 1,635 hours will see a 5% cut. Fewer hours mean a larger cut, up to 35%. The cuts are firmwide. Mintz Levin [...]
Continue reading...Wednesday, August 5, 2009
Perkins Coie, which in April cut 12 attorneys and 26 staff, has announced minor salary cuts for associates. The cuts will average a mere 3.8%, and go into effect September 1st. In certain markets, the salary cuts will be deferred until competitors cut their associate pay. The firm intends to avoid having layoffs for the rest of [...]
Continue reading...Thursday, July 30, 2009
![Troutman Sanders Cuts Associate Payroll 10% [Update 2]](http://www.jdjournal.com/wp-content/themes/freshnews/thumb.php?src=http://www.jdjournal.com/wp-content/uploads/2009/01/troutman_160x120.jpg&h=75&w=75&zc=1&q=95)
Atlanta’s Troutman Sanders has announced to its associates a 10% cut in total associate payroll budgeted for August to December of this year. The salary cuts for each associate will be performance-based. There are no further details available at this time. If you know anything about the salary cuts at Troutman Sanders, please — send us a [...]
Continue reading...Tuesday, July 21, 2009
Florida’s Akerman Senterfitt has announced a 10% cut in all associate salaries for all years, effective today. The firm blames “market conditions.” Akerman is also abandoning its current bonuses scheme, and will pay merit-based discretionary bonuses instead. Akerman Senterfitt was founded in 1920, and has grown to become one of the largest law firms in the United States. [...]
Continue reading...Tuesday, July 7, 2009
Weil Gotshal, which in May laid off 79 staff and in June announced the closure of its Austin, Texas office, is cutting the salaries of new associates at its London location. Newly-qualified lawyers at One South Place will see their compensation cut 5.5%, to £85,000 ($137,500). Still, the new reduced salary is higher than the going [...]
Continue reading...Thursday, July 2, 2009
Blank Rome is cutting starting salaries for incoming associates. The rundown is as follows: New York City: $145,000, down from $160,000 Philadelphia & Princeton: $130,000, from $145,000 Wilmington & Washington DC: $135,000, from $150,000 Associates already with the firm will see their pay cut between 2% and 10%. The new salaries go into effect in two weeks. Blank Rome LLP is the [...]
Continue reading...Wednesday, July 1, 2009
Today Atlanta’s Alston & Bird informed its associates that the firm is reducing all associate salaries by $5,000. At this time, the firm expects to reverse the salary cut at the end of the year. In April, Alston & Bird laid off 14 lawyers and 38 staff, but offered the lawyers affected what amounts to a public [...]
Continue reading...Tuesday, June 30, 2009
Schnader, which held layoffs in April, has cut associate salaries by $10,000; and partners have agreed to a 5% reduction in compensation. Staff who make more than $60,000 a year are taking up to 5% in pay cuts. The firm blames the economic meltdown. Schnader Harrison Segal & Lewis LLP was founded in Philadelphia in 1935 by former [...]
Continue reading...Thursday, June 25, 2009
Buchanan Ingersoll & Rooney, which in April deferred start dates for first-year associates to February 2010, will cut all associate salaries between 5% and 10%. It is unclear if the salary cuts, which affect all class years, will be based on a billable hours requirement. The firm says some associates will get higher or lower cuts based [...]
Continue reading...Thursday, June 11, 2009
Bryan Cave has announced it is cutting associate salaries 10% across the board. No one’s salary will be reduced below the newly-established entry-level rates: $145,000 in Chicago, Irvine, New York, San Francisco, Santa Monica, and Washington, DC; $130,000 in Atlanta; $115,000 in Phoenix; $110,000 in St. Louis; and $100,000 in Kansas City. Some staff lawyers will also [...]
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Thursday, August 6, 2009
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