Photo: Diego M. Radzinschi/ALMPerkins Coie Cuts Pay for Lawyers and Staff, Prepares for 'Transformational' Shift in Economy
"We are seeing that this is not just a recession," said managing partner Bill Malley, who said the firm is committed to trying to avoid layoffs or furloughs.
May 13, 2020 at 02:36 PM
4 minute read
The original version of this story was published on The American Lawyer
Perkins Coie adopted new austerity measures related to the COVID-19 pandemic Wednesday, cutting salaries for associates and professional staff in addition to delaying payouts for partners.
The firm said in an email that it will enact a 15% salary reduction for non-partner lawyers, a 10% reduction in salary for staff members making between $125,000 and $200,000 per year and a 15% reduction for professionals making over $200,000. Those making less than $125,000 annually will not be affected.
The Seattle-founded firm also said that it would conduct its summer associate program virtually, having the full complement of participants go through an abbreviated six-week program.
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