Squire Sanders has joined the march away from lockstep compensation, and will implement a merit based pay system starting next year. Details are still being worked out. The firm says the move away from lockstep is due to the changing economy and the expectations of clients.
Squire Sanders has had a rough year. As we’ve reported previously, they’ve made several cost cutting decisions, including lowering base salaries, layoffs, and cuts to their summer program.
Squire Sanders was founded in 1890 in Cleveland, Ohio, and has 32 offices today in 15 countries.