Chicago’s Shefsky & Froehlich is slashing pay across the board, with partners taking pay cuts of up to 30%. The firm hopes that by spreading the pain, it can avoid further layoffs.
In February, the firm let go five lawyers, including a partner, and 11 staff. The firm currently employs 74 lawyers.
Associate attorneys have taken a 10% pay cut, and non-lawyer staff 5%.
Shefsky & Froelich Ltd. is a full-service law firm founded in 1970.