Good morning everyone! It’s Wednesday, December 16, and here’s a quick look at yesterday’s news… Sonnenschein lays off some staff and abandons lockstep compensation…. WilmerHale also ditches lockstep…. Nixon Peabody…
There are two unconnected stories coming out of Sonnenschein today. The first is that the firm has made staff cuts 14 days before Christmas. The firm has confirmed the staff…
WilmerHale is abandoning lockstep compensation and adopting a merit based three tiered system that should look familiar to anyone that’s read these pages over the past few months. The new…
DLA Piperhas joined the lockstep march away from lockstep compensation. In a memo today, the firm outlined its new associate compensation package. In broad terms, it looks familiar. The overall…
Hello everyone! Thanks to a minor electrical problem this isn’t so much a morning roundup as an early afternoon one. Pepe & Hazard is reported to be in merger talks……
Orrick presented its new compensation plan to its associates today, and there was much rejoicing. Unlike many firms that cut base salaries with discretionary bonuses, Orrick kept the $160k starting…
Atlanta based Sutherland is joining the rush to abandon lockstep compensation and is moving to a merit based system similar to the one other top firms have adopted or are…
Sidley Austin had an all associates meeting in Washington DC today. Details, or rumors at least, are beginning to trickle out from the meeting, but nothing hard and fast as…
Just a few weeks after announcing it was moving away from lockstep compensation and doing away with associate classes, Reed Smith is cutting associate salaries by 20% for all incoming…
Citing client concerns with billing practices, Reed Smith announced a new compensation plan today. The new plan, which the company cleverly named CareeRS, separates associates into three tiers and three…
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