Salary Freeze
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Allen Matkins, Layoffs, Salary Cuts, Salary Freeze
Nationwide Layoff Watch: Allen Matkins Continues the Layoff & Salary Cuts 'Super Combo'
Allen Matkins, a mid-sized California firm, is the latest firm to offer the “hemlock package” of layoffs and salary cuts. The layoffs at Allen Matkins were relatively small. Only about ten people, six of whom were associates, according to ATL tipsters. But the salary cuts were more substantial. According to one tipster: First year salary […] -
Salary Freeze, Start Dates
Mystery Meeting At Hunton & Williams
We love to point out when our commenters point us in the right direction. Over the weekend, somebody placed this comment in the recent Law Shucks post: Hunton & Williams is planning big layoff in week ahead. The firm has been laying off PARTNERS in stealth moves during the past two months and a firm-wide […] - Sponsored
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Credit Crisis, Money, Salary Cuts, Salary Freeze
McGuire Woods Cuts First-Year Associate Salaries
Admit it, you knew this was coming. We’ve got a firm capitulating to the market realities and cutting first-year associate salaries. McGuire Woods chairman Richard Cullen left a voice mail (!) to his attorneys last night. He let everybody know that the firm was cutting 10% off of first-year salaries, from $160K to $144K. UPDATE: […]
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Buchanan Ingersoll & Rooney, Salary Freeze
Nationwide Salary Freeze Watch: Buchanan Ingersoll, and a New Round-up
After yesterday’s staff layoff news, it may come as no surprise that Buchanan Ingersoll & Rooney is the latest firm to freeze associate salaries for 2009. From a tipster there: Buchanan Ingersoll announced a salary freeze for 2009 for all associates except “unusual” cases, e.g., laterals who were brought in at what is now perceived […] -
Salary Freeze
Nationwide Pay Freeze Watch: Pillsbury Two-Step
Last week, Pillsbury was busy throwing mama from the train. But underneath the layoff news, the firm instituted other cost cutting measures. On Tuesday, Pillsbury decided to freeze salaries. Pillsbury is one of the firms with a two tiered associate payscale. A tipster reports that a number of Pillsbury associates were already receiving below market […] -
Allen & Overy, Layoffs, Salary Freeze
International Layoff / Salary Freeze Watch: Allen & Overy Hits Us With Their Best Shot(Layoffs hit almost 10 percent of lawyers and staff.)
This morning Allen & Overy quit beating around the bush and sent a firm-wide email announcing that there’d be some changes around there — major changes. It was with a heavy heart that firm managing partner Wim Dejonghe and senior partner David Morley inflicted a world of pain on its personnel: Since the beginning of […] -
Layoffs, Salary Cuts, Salary Freeze, Thompson Hine
Nationwide Layoff Watch: Layoffs and Salary Cuts at Thompson Hine
The song “Cleveland Rocks” always seemed like a bit of a stretch to me, and yesterday’s events did nothing to dissuade. We’ve received several reports that 400-attorney Midwestern firm Thompson Hine has been conducting layoffs in its Ohio offices, including its Cleveland one: 12 lawyers, 5 paralegals, and 29 secretaries. Another tipster reports that the […] -
LexisNexis / Lexis-Nexis, Salary Freeze
Nationwide Pay Freeze Watch: Lexis Parties Like It's 2008
Lexis employees who Shepardize “Lexis salaries” may now find a red stop sign attached to their search results. Last Tuesday, the powers that be at Lexis sent around a company-wide email announcing that 2009 salaries would be frozen at 2008 levels for all employees: In order to address what is shaping up to be a […] - Sponsored
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Salary Freeze
Nationwide Pay Freeze Watch: Winston & Strawn
Another top firm has frozen its 2009 salaries. Winston & Strawn informed associates last week that 2009 salaries will be held at 2008 levels. It’s what we like to call around here a “Slurpee freeze,” as the firm might change its mind should our national economy pull out of its long and continuous nose dive. […] -
Biglaw, Money, Salary Cuts, Salary Freeze, Skaddenfreude
The February Freeze Round-up: New Firms on Ice (and smaller raises at Jenner & Block NYC)
Another month, another round of freeze announcements. Here are the latest firms to announce the withholding of class year raises in 2009: Baker & McKenzie (“Slurpee” freeze– will be revisited on June 30) Cooley Godward Patton Boggs Seyfarth Shaw Jenner & Block is not freezing salaries, but it is giving smaller raises to New York […] -
Alston & Bird, Arent Fox, Arnold & Porter, Blank Rome, Chadbourne & Parke, Dorsey & Whitney, Hogan & Hartson, Salary Freeze, Sheppard Mullin, Sonnenschein, Venable
Updated Salary Freeze Round-up: Even More Firms on Ice
As we noted in yesterday’s Morning Docket, even the New York Times has taken note of the salary freeze trend at law firms. The Times reached out to Above The Law’s own David Lat for the story: Although many associates are angry about the freezes, others are relieved, said David Lat, founding editor of AboveTheLaw.com, […] -
Associate Bonus Watch 2008, Layoffs, Salary Freeze, Staff Layoffs
Nationwide Layoff Watch: Major Downsizing at Wilson Sonsini (45 Lawyers, 68 Staffers)
Major news coming out of Wilson Sonsini Goodrich & Rosati. The firm just announced that 45 attorneys and 68 staff were laid off: [I]t is with regret that we announce that the firm will be downsizing our associate, legal support, and administrative ranks, with 45 attorneys and 68 staff directly affected. Members and staff managers […] -
Alex Kozinski, Blogging, Media and Journalism, New York Times, Salary Freeze, Shameless Plugs
A Few Shout-Outs to ATL
We always appreciate mentions of Above the Law in other publications (and we get annoyed when ATL isn’t given proper credit for breaking stories.). Here are a few recent shout-outs: 1. Chill of Salary Freezes Reaches Top Law Firms [New York Times] We previously linked to Eilene Zimmerman’s article in Morning Docket, but in case […]
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Associate Bonus Watch 2008, Chadbourne & Parke, Salary Freeze
Associate Bonus Watch And Nationwide Pay Freeze Watch: Chadbourne & Parke
We haven’t yet gotten our hands on the Chadbourne & Parke bonus memo, but a firm spokesperson confirmed what the general numbers look like. According to the spokesperson: “Our bonuses are on Cravath, Half-Skadden, scale. Individual bonus determinations are based upon individual performance and pro rated for part time attorneys and attorneys who have been […] -
Salary Freeze
Nationwide Pay Freeze Watch: Mayer Brown You Heard It Here First
A couple of weeks ago we reported that Mayer Brown’s failure to reflect a salary increase in associates’ initial January paycheck could be an indication of a coming salary freeze. A tipster told us: Today was the first pay day in 2009 for Mayer Brown NY. In the past, our first pay check of the […] -
Arent Fox, Associate Bonus Watch 2008, Salary Freeze
Nationwide Pay Freeze Watch: Arent Fox Takes This Opportunity to Bring Back Deferred Compensation
A solid ice salary freeze is on at Arent Fox: As a result of this comprehensive review, the Executive Committee (the “EC”) decided that based on global economic conditions, the Firm will freeze associate base compensation at the current 2008 rates for 2009. But that’s not all: Additional adjustments to the associate compensation system, also […] -
Associate Bonus Watch 2008, Salary Freeze
Associate Bonus Watch: Goodwin Procter Adopts Cravath Scale ... And A Salary Freeze
Goodwin Procter just came out with their 2008 bonus news. Like other peer firms in Boston, Goodwin is going with a Cravath scale, though the firm does have a 1,850 hours requirement: For 2008, we maintained our bonus eligibility threshold of 1,850 hours, though many of our peer firms set significantly higher thresholds for bonus […] -
Salary Freeze
Nationwide Pay Freeze Watch: Morgan Lewis Freezes Even Though They Said They Wouldn't
Thanks to the power of “the internet,” I’m able to remind you that in October the law firm Morgan, Lewis & Bockius informed associates: As in past years, base compensation adjustments will continue to be effective as of January 1 and will be reflected in your January paycheck. In fact, I reminded you just last […] -
Salary Freeze
Nationwide Pay Freeze Watch: Perkins Coie And Fulbright Freeze, Schulte Does Not
After saying nice things about top Texas firms yesterday, our inbox was flooded today with news of a salary freeze at Fulbright & Jaworski. As we understand it, the firm is only freezing salaries through the first quarter of 2009, so it’s a Slurpee freeze. So much for Texas being the beacon of hope for […] -
Alston & Bird, Hogan & Hartson, Salary Freeze
Nationwide Pay Freeze Watch: Brrr! Things are getting chilly beneath the Mason-Dixon Line
While many firms announced their decisions to freeze 2009 salaries at the end of 2008, a few waited until now to make up their minds. Memos went out before the first paychecks of the year to associates at Atlanta-based Alston & Bird and Washington, D.C.-based Hogan & Hartson. Alston’s is a Slurpee freeze with the […]