Joining a parade of law firms that have adopted cost-cutting measures to mitigate the financial fallout from COVID-19, Sullivan & Worcester managing partner Joel Carpenter told the firm this week that it would adopt several austerity measures in the months ahead.

In addition to general discretionary expense cutting, Carpenter said the Boston-based firm has furloughed a number of employees for 90 days with full benefits, and it has instituted temporary pay cuts across much of the firm. Employees making less than $66,000 per year will not be affected, while staff members making above that amount will see a 5% reduction in salary. Non-equity partners will see a 10% reduction, while equity partners will see a 20% decrease from their monthly draws.

This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.

To view this content, please continue to their sites.

Not a Lexis Subscriber?
Subscribe Now

Not a Bloomberg Law Subscriber?
Subscribe Now

Why am I seeing this?

LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.

For questions call 1-877-256-2472 or contact us at [email protected]