JD Journal » freezes pay

DWF Freezes Pay, Cancels Bonuses

Erik Even — Tue, 19 May 2009 16:53:15 +0000

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 £5 a head ($7.74) on its Christmas party.

If you have any details about the state of things at DWF, please send us a confidential tip!

DWF LLP is a leading, full service law firm, based in Leeds, Liverpool, London, Manchester and Preston. It employs over 950 people, including 127 partners.

Herbert Smith Targets 33 Lawyers, 51 Staff; Freezes Pay

Erik Even — Mon, 20 Apr 2009 18:34:25 +0000

Herbert Smith announced today it has begun a redundancy consultation at its London HQ, targeting 84 positions.

The redundancies target 24 fee earners and professional support lawyers in the corporate practice; 9 fee earners and PSLs in real estate; nine paralegals and 42 support staff.

Herbert Smith also announced that it is freezing pay for all London staff except trainees, whose salaries will be cut to £60,000 ($87,000) in September.

Some bonuses will be paid to support staff and fee earners.

Herbert Smith was founded in the City of London in 1882 by Norman Herbert Smith, and today has 230 partners and 1,200 fee-earners. It is widely considered to be the UK’s leading litigation practice.

Allens Arthur Robinson Freezes Pay, Offers Voluntary Redundancies

Erik Even — Sat, 18 Apr 2009 17:41:06 +0000

Allens Arthur Robinson will institute pay freezes July 1st, and is offering up to one year’s pay to lawyers who take voluntary redundancies.

The amount paid out for those who choose to leave will depend on seniority and years with the firm.

Allens also plans to shuffle remaining lawyers between practices.

The firm has no plans for involuntary layoffs, and will not cut its incoming associate class. It will, however, cut partners’ profit shares.

Allens Arthur Robinson is a commercial law firm in the Asia-Pacific region. In Australia, and throughout the Asia-Pacific region generally, it is considered to be one of the top commercial law firms.

Allens has staff based in 14 cities and eight countries across the region, including Bangkok, Beijing, Brisbane, Hanoi, Ho Chi Minh City, Hong Kong, Jakarta, Melbourne, Perth, Phnom Penh, Port Moresby, Shanghai, Singapore and Sydney. It is one of the largest law firms in the Asia Pacific region, with almost 200 partners and more than 1500 personnel.

Lovells Cuts 79 London Jobs, Freezes Pay

Erik Even — Fri, 03 Apr 2009 17:31:45 +0000

In February we reported that Lovells had launched a redundancy consultation that could see up to 94 London staff lose their jobs.

Well, the numbers are in. The London-based firm’s redundancy consultation ended today with 79 legal and support staff being laid off.

Also, the firm announced that all salaries will be frozen at 2008 levels.

Eighteen lawyers have been laid off all in transactional practice areas. The salary freeze will affect all legal and support staff.

Lovells is an international law firm with over 300 partners and around 3,200 employees operating from 26 offices in Europe, Asia and the United States. It is one of the largest international legal business practices in the world.

Allen & Overy Cuts 150 Lawyers, Freezes Pay

Erik Even — Thu, 19 Feb 2009 17:27:39 +0000

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 47 partners, or 9% of its total. Another 37 partners will be “subject to equity adjustments” in response to market conditions.

The firm’s private client team will spin off to form a new firm starting in May, to be known as Maurice Turnor Gardner LLP.

A salary freeze for all staff will also be imposed.

Around 100 associates will be let go. Half of the cuts in both partner and associate numbers will come in London.

Founded in 1930, Allen & Overy has approximately 5,500 staff and 31 offices worldwide. It is part of the Magic Circle of London-based law firms.