Pay Cuts, Layoffs, and More: How Law Firms Are Managing the Pandemic

Winston & Strawn

The firm announced to partners on April 6 that their distributions would be cut by 50% over the next three months, according to a report by Above the Law.

Womble Bond Dickinson

Womble Bond Dickinson is temporarily cutting pay[72] across the firm’s U.S. offices and furloughing or laying off some employees to weather the economic shutdown from the coronavirus pandemic. The trans-Atlantic Am Law 100 firm, which has about 550 lawyers in its U.S. offices, has instituted a 10% or less pay cut for all U.S. attorneys and staff, furloughed “some selected employees” and laid off “another small group,” Womble said in a statement to The American Lawyer.

References

  1. ^  of the coronavirus pandemic (www.law.com)
  2. ^ implemented (www.law.com)
  3. ^ called for partners (www.law.com)
  4. ^ cost-cutting moves (www.law.com)
  5. ^ On April 27 (www.law.com)
  6. ^ planned to restore (www.law.com)
  7. ^ temporarily reduced draws (www.law.com)
  8. ^ The firm said May 7 (www.law.com)
  9. ^ said April 13 (www.law.com)
  10. ^ cut staff, attorney and partner pay, (www.law.com)
  11. ^ April 8 statement (www.law.com)
  12. ^ reduced the salaries (www.law.com)
  13. ^ reported (www.law.com)
  14. ^ stop paying partners (www.law.com)
  15. ^ July 29 firm memo (www.law.com)
  16. ^ suspending its summer associate (www.law.com)
  17. ^ cost-saving measures (www.law.com)
  18. ^ In a July email, (www.law.com)
  19. ^ said April 15 (www.law.com)
  20. ^ slashed associate salaries (www.law.com)
  21. ^ said April 8 (www.law.com)
  22. ^ The firm announced (www.law.com)
  23. ^ said April 14 (www.law.com)
  24. ^ The firm announced (www.law.com)
  25. ^ a spokeswoman said in June. (www.law.com)
  26. ^ cut pay (www.law.com)
  27. ^ cancel its summer associate program (www.law.com)
  28. ^ unspecified number of layoffs (www.law.com)
  29. ^ confirmed April 15 (www.law.com)
  30. ^ the firm said on May 6 (www.law.com)
  31. ^ announced April 16 (www.law.com)
  32. ^ implemented compensation cuts (www.law.com)
  33. ^ In a statement May 8 (www.law.com)
  34. ^ confirmed (www.law.com)
  35. ^ On April 23 (www.law.com)
  36. ^ said April 29 (www.law.com)
  37. ^ furloughs will be made permanent.  (www.law.com)
  38. ^ told Law.com in a statement (www.law.com)
  39. ^ salary reductions (www.law.com)
  40. ^ temporarily reducing partner draws (www.law.com)
  41. ^ decided to pause a portion of planned distributions (www.law.com)
  42. ^ resumed distributions (www.law.com)
  43. ^ suspending its 4% employer 401(k) match (www.law.com)
  44. ^ announced on May 6 (www.law.com)
  45. ^ said a firm spokesperson (www.law.com)
  46. ^ reduced attorney pay and reduced its head count (www.law.com)
  47. ^ Mintz chairman Robert Bodian said (www.law.com)
  48. ^ As of July 1, (www.law.com)
  49. ^ April 3 (abovethelaw.com)
  50. ^ ATL reported (abovethelaw.com)
  51. ^ not responded (www.law.com)
  52. ^ offering staff (www.law.com)
  53. ^ The firm on April 21 (www.law.com)
  54. ^ furloughing some staf (www.law.com)
  55. ^ April 8 statement. (www.law.com)
  56. ^ The firm said (www.law.com)
  57. ^ furloughed some associates (www.law.com)
  58. ^ confirmed May 11 (www.law.com)
  59. ^ reducing partner distributions  (www.law.com)
  60. ^ Later in April (www.law.com)
  61. ^ confirmed May 14 (www.law.com)
  62. ^ said in an interview (www.law.com)
  63. ^ The firm said (www.law.com)
  64. ^ The firm on April 17 (www.law.com)
  65. ^ voluntary leave program (www.law.com)
  66. ^ announced April 13 (www.law.com)
  67. ^ chairman Stephen Forte told Law.com (www.law.com)
  68. ^ The firm announced on May 1 (www.law.com)
  69. ^ implemented (www.law.com)
  70. ^ announced  (www.law.com)
  71. ^ The firm said (www.law.com)
  72. ^ temporarily cutting pay (www.law.com)
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