The firm said in a statement on May 8 that it had earlier furloughed a “small number” of support staff, but now eliminated some of the positions. The firm also said it furloughed about 1.5% of its personnel, many of whom have office-based responsibilities. Employees making less than $66,000 per year will not be affected, while those staff and employees making over that mark will see a 5% reduction in salary. Employees making less than $40,000 will not see a cut. The firm said it is not planning to furlough or lay off employees, according to an April 8 statement. Sponsored By : Exterro (The firm compensates its equity partners through profit distributions alone and does not pay them draws.). Additionally, on April 7, the firm confirmed in a statement that “We are instituting a temporary 15% compensation reduction throughout the entire law firm to be shared equally by our partners, associates, counsel, professional staff and assistants, and have temporarily furloughed a small number of staff, along with other operational expense-reduction measures.”. Specifically, Finnegan is making 20% salary cuts for those earning $150,000 or more, 15% salary cuts for those earning between $100,000 and $150,000, and 10% salary cuts for those earning $75,000 to $100,000. Are You Helping Or Hindering Your Firm’s Financial Performance? A “small percentage of staff” will also see reductions in hours starting May 1 until September. Never worry about dealing with your PDF’s again, Foxit PhantomPDF provides a full service, easy-to-use software for all of your PDF and document needs. Finally, we shortened the duration of our 2020 summer program and deferred the start date of our incoming 2020 first year associate class to January 2021.”. The firm said in a statement May 13 that it furloughed an additional 5% of its administrative staff until July 31, “Given what now seems like a slow and methodical transition back to an office working environment throughout the summer and in light of reduced needs for administrative support while working remotely.” The statement added that Cozen O’Connor will pay 100% of those employees’ health benefits throughout that time, and will allow them to keep their PTO. ", "All about $$$ and not the people. HAS JOINED THE FIRM AS AN ASSOCIATE. September 23, 2020. *May exclude premium content Midsize Texas firm Munck Wilson Mandala has reduced compensation for partners, associates, exempt directors and managers effective on Wednesday, but has no plans to reduce attorney headcount. Voulez-vous vraiment ne plus mettre cet avis en avant sur le profil ciblé de ? The labor and employment firm has temporarily cut pay for all lawyers and staff while furloughing some employees who can’t work remotely, said the firm’s chairman, Roger Quillen, in an April 10 interview. Freshfields has suspended its latest quarterly partner distribution. Attorneys are not eligible for the buyout. Tell us in a Flashpoll. A Baker Donelson spokesperson said in an email that the temporary salary reductions will be 20% across the board, and that the furloughs will affect “less than 4% of the firm’s overall workforce.”. It will also furlough some employees “over the next few weeks,” according to a statement from the firm. Pay for professional consultants and staff has also been reduced on a graduated schedule for those making $50,000 or more annually maxing out at a 15% cut. “Share partners will shoulder much of the resulting financial effects,” a firm statement said. Quillen said that the Atlanta-headquartered firm proactively wants “to ensure solid financial footing for the firm throughout the COVID-19 crisis and the related economic fallout.”.