If you previously signed up for the layoff alerts, you don’t need to do anything. Before the economic upheaval of the coronavirus, the Am Law 50 was financially pulling away from the second 50, and the biggest in Biglaw have mostly been reassuring folks about their economic stability during these tough times. Dragged Down by Finance and Energy, the Lateral Market Has Cratered, Jonathan Lamberson Joins White & Case as a Partner in Silicon Valley, 9 practice areas that can help young attorneys recession-proof their careers, according to top lawyers and recruiters, Big Law Firms Are Forcing Out More Unproductive Partners as Recession Stalls Profits. The blog also says equity partner distributions have been cut by 60%.

A selection of our best stories daily based on your reading preferences. And at least three other firms have reduced the pay cuts they imposed. “We recognize the biggest mistake we can make is to underestimate the scope of this pandemic. Global Law Firm Allows Lawyers to Work Remotely 40% of Time. Subscriber Is Your Accounting Helping Your Firm Perform?

Subscribe and get breaking news, commentary, and opinions on law firms, lawyers, law schools, lawsuits, judges, and more. But now we’ve learned that even top firms are not immune to the COVID-19 the pay cuts. "Recruiting is not top of mind right now," said Alisa Levin, a New York City based recruiter whose firm, Greene Levin Snyder.
Other administrative staff will see a 10% pay cut.


Other law firms that have taken temporary measures in response to work slowdowns include: • Baker Donelson, which is imposing pay cuts, reducing partner draws and furloughing some employees. Paralegals and other staff members will see pay cuts of 10%. salary; or Several other big law firms follow suit and reversing course on cost-cutting measures. Levin said at least some of her candidates were still progressing, though, with interviews done via video conference rather than in-person. In May Holland & Knight announced that it would be cutting partner draws, salaries for its associates, and furloughing staff. Up until now, the Biglaw COVID-19 austerity measures, specifically the layoffs, furloughs, and associate salary cuts, have stayed away from the very top of Biglaw. Big law firms cut pay amid COVID-19 worries. The third law firm, Loeb & Loeb, plans to temporarily cut pay by 15% for income partners, senior counsel, of counsel, associates and staff members who are making more than $200,000 a year, according to a memo obtained by Above the Law. The third law firm, Loeb & Loeb, plans to temporarily cut pay by 15% for income partners, senior counsel, of counsel, associates and staff members who are making more than $200,000 a year, according to a memo obtained by Above the Law.

M&A associate needed for a highly regarded tech focused mid-market law firm for its Boston or NY office. Partners at many firms including Paul Hastings, Morgan Lewis, DLA Piper and Blank Rome, either declined to comment or did not respond to a request for information about how they are managing the crisis. • Pryor Cashman, which has furloughed some associates. Easing of COVID-19 cut reductions has recently become a trend among law firms that took on austerity measures back in spring amid the financial crisis caused by the pandemic. period of 6 months, working either 4, 3 or 2.5 days per week. Get in-depth analysis of current trends in the legal community, profiles of fascinating professionals, academic issues and lifestyle discussions for law school students, and a few out-of-the-ordinary goings on in the world delivered to your inbox.