Biglaw Firm Moves To Phase 2 Of COVID-19 Austerity Measures
It sounds like a confusing time at the firm.
Buchanan Ingersoll & Rooney has already made some COVID-19 inspired cost-cutting moves. Salaries at the firm have been cut, but that doesn’t seem to be the end of the austerity measures.
One tipster reported being given the pay cut as previously announced, then shortly after they were “terminated due to a workforce reduction.” Another said, “They are conducting layoffs, just not announcing them.”
When asked for comment, Joseph A. Dougherty, CEO and Managing Director of the firm, confirmed that some staff were furloughed and laid out their plan for summer associates and the new class of associates but made no mention of any other layoffs:
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As you have previously reported, several weeks ago Buchanan temporarily adjusted compensation across all levels and furloughed a very limited number of administrative staff. We look forward to bringing these individuals back when the pandemic subsides. This week, we announced we are shortening our 2020 summer associate program to four weeks and will be offering each second year summer associate an offer for full time employment in 2021. While we expect to welcome our summer associates to our offices in July, we are fully prepared to provide an excellent experience remotely, if need be. In addition, we are deferring the start of our Fall first year associate class to January 2021. These prudent decisions reflect our commitment to our clients, our communities and our future talent.
Sounds like folks at the firm have a different perspective than management. So what’s really going on at the firm? Buchanan associates, feel free to sound off by email, by text message (646-820-8477), or by tweet (@ATLblog). A fun or insightful response — we’ll keep you anonymous — could find its way into an update to this story.
If your firm or organization is slashing salaries, closing its doors, or reducing the ranks of its lawyers or staff, whether through open layoffs, stealth layoffs, or voluntary buyouts, please don’t hesitate to let us know. Our vast network of tipsters is part of what makes Above the Law thrive. You can email us or text us (646-820-8477).
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Kathryn Rubino is a Senior Editor at Above the Law, and host of The Jabot podcast. AtL tipsters are the best, so please connect with her. Feel free to email her with any tips, questions, or comments and follow her on Twitter (@Kathryn1).
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