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Stick this one in the “It could be worse…” file.
At an all associates meeting today, Covington & Burling announced a freeze on associate salaries for all offices other than New York. Although Covington’s associates are probably not thrilled with the news, things could be worse. If Covington can reign in costs without having to lower salaries or cut jobs, it puts them a step ahead of most firms.
Back in April, Covington & Burling’s Diversity Update included a statement that they had not frozen salaries. It took longer than a month, but now we can finally link back to it.
