Paul, Weiss, Rifkind, Wharton & Garrison and Fried, Frank Harris, Shriver & Jacobson on Tuesday joined other high-earning firms such as Cravath, Swaine & Moore and Kirkland & Ellis in electing not to issue special fall bonuses to associates. With the recession dragging on, Paul Weiss cited concerns over how such an action would resonate with its clientele.
In an internal memo obtained by The American Lawyer, Paul Weiss chair Brad Karp said that after “careful consideration,” the firm would maintain its normal December bonus schedule in lieu of the supplemental issuance.
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