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WHAT WE’RE WATCHING
CUTBACKS – Behemoth Baker McKenzie, the largest U.S. based law firm, is reducing salaries for all nonpartner attorneys, other timekeepers and business professionals in the U.S. by 15% amid the COVID-19 pandemic. Dan Packel reports that the salary reductions will not affect those earning less than $100,000. Without providing specifics, the firm, which has about 4,720 lawyers, said partners will also see cuts, with equity partners receiving bigger reductions than others at the firm. For a roundup of law firm cutbacks, go here.
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