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.