Details of Allen & Overy's redundancy program have emerged with staff learning about the criteria they will be judged on as well as the redundancy packages on offer.
The firm has drawn up a list of seven criteria which staff will be subject to when being considered for layoffs: individual performance, business, sickness, disciplinary record, versatility, contribution and potential.
Details of the criteria were finalized on March 12 after consultation with the firm's 13 employee representatives.
A&O has also finalized details of the severance packages it will be paying out to associates.
Associate salaries will continue up until the end of May, with the firm paying individuals up to three and a half weeks per completed year of service up to a maximum lump sum of 52 weeks.
The firm will award staff an additional discretionary lump sum depending on seniority. Senior associates, or associates with four-and-a-half years' post-qualification experience (PQE) can expect an additional 12,500 pounds ($17,500) on top of regular compensation pay, while first-year PQEs will receive 4,250 pounds ($6,000).
Lawyers with one year PQE can expect up to 31,000 pounds ($43,500) in total, while those with three years' PQE can expect up to 55,250 pounds ($77,500)depending on the length of time spent with the firm.
A spokesperson from the firm said: "The discussions have been robust, but most importantly open and honest. From the outset we have said that we have taken the difficult decision to act now, from a position of strength, so that we can offer better terms to our departing people than might otherwise be the case. We believe this is reflected in the terms that we are offering.
"We now move to the remaining tasks of completing the redundancy process and helping all our people through what has been, and continues to be, a difficult time."
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