Womble Bond Dickinson is temporarily cutting pay 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.
Above the Law first published a report Monday about the cost-cutting measures following the firm’s Friday afternoon internal announcement. It’s not clear from Womble’s statement which employees were laid off or furloughed, but Above the Law said the layoffs included associates.
“In response to the economic disruption brought on by the novel coronavirus, Womble Bond Dickinson (US) chose to make certain adjustments to its business during this difficult time,” the firm said in the statement.
“We made the hard decision to furlough some selected employees and let go another small group,” the statement said. “In addition, we are temporarily instituting a 10% or less pay reduction (with lower levels of compensation reduced by smaller percentages) for our remaining staff and attorneys.”
The 10% pay reduction applies to those making over $100,000, with lower percentage reductions for those making less, according to Above the Law.
“Decisions like these are never easy, but we believe taking these steps now will curb the negative economic impact of the COVID-19 pandemic and keep our firm strong and well-positioned to continue serving our clients at the highest level,” Womble’s statement concluded.