Reed Smith is decimating associate salaries, cutting pay 10% across the organization. From the memo: …Reed Smith has adopted many changes to our business in response to global economic conditions……
Despite seeing its best financial results ever, UK law firm DWF has frozen pay and canceled bonuses. The firm was skewered online in December, when it announced it would spend…
McDermott Will & Emery associates have been paid their 2008 bonuses, with fourth years getting up to $60,000. However, the firm has announced that associate salaries will be frozen for…
London’s Allen & Overy will only retain 70% of its trainees for September 2009 and March 2010. The Magic Circle firm has not made a final decision about the retention…
Burges Salmon has announced a redundancy consultation that could see 18 lawyers lose their jobs. The firm has also launched a review of its business support function, and has frozen…
The Am Law 100′s Stroock & Stroock & Lavan, a firm with about 75% of its 750 lawyers in New York, saw profits per partner drop by 8.6%, to $1,185,000…
Last week we reported that Allen & Overy, the UK’s fourth-biggest law firm by revenue, would cut as many as 150 lawyers, sever ties with its private client team, and…
Morrison & Foerster has frozen associate salaries, and revised its associate discretionary bonuses to as low as $6,000 for 2008. All 2008 bonuses will be paid on February 27th, but…
Allen & Overy, the UK’s fourth-biggest law firm by revenue, will cut as many as 150 lawyers, sever ties with its private client team, and freeze pay. The cuts include…
Above the Law reports that K&L Gates held a meeting Friday to discuss, amongst other things, salary freezes. Earlier today, associates at K&L Gates attended a town hall meeting with…
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