Biglaw

Am Law 200 Firm Goes With A Sampler Platter Of Cost-Cutting Measures

The firm hopes the measures are temporary. So do we.

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Strap in, it’s going to be a bumpy ride in Biglaw. The trend of Biglaw firms tightening their financial belts in order to survive the economic upheaval surrounding COVID-19 continues, the most recent example comes from the growing Am Law 200 firm of Clark Hill.

As reported by Law.com, Clark Hill has instituted a potpourri of cost-cutting measures designed to help the firm weather the economic downturn. That includes a pay reduction for attorneys and staff, a freeze on discretionary spending, and revision of certain benefits (Above the Law tipsters say 401k matching is suspended). And, not to bury the lede, but the firm has also instituted furloughs of some employees. Oof.

According to a firm spokesperson:

“We hope that this will be a temporary measure, and anticipate that as we emerge from this period of global health and economic crisis, we will be able to revisit these difficult decisions.”

ATL joins the firm in hoping all this mess across the whole industry is temporary, and the jobs, salary, and benefits lost during COVID-19 rematerialize. But we won’t be holding our breath.

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).

If you’d like to sign up for ATL’s Layoff Alerts, please scroll down and enter your email address in the box below this post. If you previously signed up for the layoff alerts, you don’t need to do anything. You’ll receive an email notification within minutes of each layoff, salary cut, or furlough announcement that we publish.

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headshotKathryn 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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