Home

Reed Smith Asks Non Equity Partners for a Tithing
Download PDF
1 Star2 Stars3 Stars4 Stars5 Stars (No Ratings Yet)
Loading...

Render unto Caesar what is Caesar’s, or so the expression goes. Now Reed Smith is asking much the same of its non equity partners. Non equity partners are being asked to contribute as much as 15% of their base salary to the company or risk losing partnership status. Gregory Jordan, the firm’s chairman, had this to say about the plan. ““It’s about not just saying you’re a partner, but actually being one. It means something. It revolves around risk-sharing in the business.” Jordan defended the move, saying that it isn’t a means to get a quick cash infusion into the company, and going on to say that Reed Smith is having “a very strong year”.

A very strong year? That doesn’t square up with the history.

In March, Reed Smith laid off 100, 26 lawyers and 74 staff.

  
What
Where


In May, Reed Smith cut all US associate salaries by 10%.

In August, Reed Smith cancelled on campus interviews at Fordham law at the last minute, prompting the school to ban Reed Smith from on campus recruitment for five years.

Last week, Reed Smith cut the salaries of incoming associates by 20% and lowered their billing rates for work done by new associates. This came two weeks after announcing a plan to move away from lock step.

Get JD Journal in Your Mail

Subscribe to our FREE daily news alerts and get the latest updates on the most happening events in the legal, business, and celebrity world. You also get your daily dose of humor and entertainment!!




If this is a very strong year, I would hate to see what things look like in a bad year.





 

RELEVANT JOBS

Associate Attorney

USA-CA-Tustin

Plaintiffs\' employment law firm in Tustin looking for a full-time associate attorney to join the li...

Apply now

Associate Attorney

USA-ID-McCall

Millemann Pemberton & Holm LLP located in McCall, Idaho, seeks an attorney with a minimum of 5 years...

Apply now

Associate Attorney

USA-CA-Dana Point

Job description   Growing client-focused personal injury law firm is seeking a reliable a...

Apply now

Associate Attorney

USA-MN-Minneapolis

RWI Law is looking for a part-time attorney to assist with its Family Law and Criminal Defense pract...

Apply now

BCG FEATURED JOB

Locations:

Keyword:



Search Now

Venture Capital Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks corporate business attorney with...

Apply Now

Real Estate Attorney

USA-CA-San Diego

San Diego office of a BCG Attorney Search Top Ranked Law Firm seeks transactional real estate attorn...

Apply Now

Personal Injury Attorney

USA-NV-Las Vegas

Las Vegas office of our client is seeking a personal injury attorney with 4+ years of experience. Ca...

Apply Now

SEARCH IN ARCHIVE

To Top