Taking a cue from their brethren and sistren in Delaware, Los Angeles County judges have volunteered to give up one day’s pay per month, as other court employees deal with involuntary salary cuts. The judges are each giving up around $688 each month, saving the County $3 million a year. Under the state constitution, judicial officers’ [...]
Continue reading...Monday, August 17, 2009
All Delaware state judges have taken a voluntary 2.5% pay cut, that started in July. The state Constitution bans cuts in judicial pay, but Delaware Supreme Court Chief Justice Myron T. Steele says every single judge volunteered for the pay cut, which is similar to that taken involuntarily by other state employees. It is the first time [...]
Continue reading...Wednesday, July 22, 2009
Dundas & Wilson, which cut 50 jobs in March, has reported a drop in annual profits of £9 million ($14.8 million). The firm saw profits of £66 million ($108.5 million) in fiscal 2009, down from £74.8 million ($123 million) in 2008. The firm is asking staff to agree to a temporary 10% salary reduction from September ‘09 [...]
Continue reading...Friday, May 15, 2009
DLA Piper, which this week laid off 24 lawyers and 100 support staff across its UK offices, today announced salary reductions. From the memo: Our partners… have already accepted significant reductions in our projected 2009 compensation, and compensation levels for Of Counsel and Senior Counsel have also been reduced. We are now taking the further steps of [...]
Continue reading...Wednesday, May 13, 2009
In February we reported that DLA Piper had launched a second layoff consultation, with up to 140 jobs under threat. Today the firm completed the consultation, laying off 24 lawyers and 100 support staff across its UK offices. Some staff chose reduced working hours or lower pay to save jobs. In February, DLA Piper cut 80 associates and [...]
Continue reading...Wednesday, May 13, 2009
![Dechert CEO Gives Himself $1 Million Pay Cut [Update]](http://www.jdjournal.com/wp-content/themes/freshnews/thumb.php?src=http://www.jdjournal.com/wp-content/uploads/2008/12/dechert_160x120.jpg&h=75&w=75&zc=1&q=95)
Dechert LLP chairman and CEO Barton Winokur announced that he has taken a $1 million pay cut. Winokur revealed the self-imposed pay cut, in fact a reduction in his draw from firm profits, at a meeting of law firm execs in late April. Other Dechert executives have taken similar pay cuts, according to Winokur. Winokur made around $8 [...]
Continue reading...Saturday, May 9, 2009
Most offices of London’s Norton Rose have approved a flexible hours scheme first announced in March. The firm hopes to avoid redundancies by reducing hours. The scheme has been approved by 19 of the firm’s 21 international offices. Norton Rose is still working to make the plan comply with the law in France and Germany. London lawyers and [...]
Continue reading...Friday, April 10, 2009
Denver’s 200-attorney Brownstein Hyatt has laid off 15 attorneys and 22 staff. Partners consulted with associates to determine a balance of salary cuts and layoffs. By accepting salary reductions, the associates saved 8 jobs. Income shareholders, counsel and policy advisers took a 10% pay reduction; associate salaries will be reduced by 8.5%; and senior management pay will [...]
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Tuesday, August 18, 2009
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