Florida’s Akerman Senterfitt has announced a 10% cut in all associate salaries for all years, effective today.
The firm blames “market conditions.”
Akerman is also abandoning its current bonuses scheme, and will pay merit-based discretionary bonuses instead.
Akerman Senterfitt was founded in 1920, and has grown to become one of the largest law firms in the United States. In 2008, the National Law Journal ranked the firm as 92nd largest in the US by number of attorneys, and the second-largest Florida-based firm.