Citing a “challenging business environment,” Orrick, Herrington & Sutcliffe announced Monday it would freeze salaries for its nearly 670 associates.
In a memo distributed Monday, the firm announced that associates in the United States, Europe and Asia will receive the same salary in 2009 as they did this year. The move follows a similar announcement by Latham & Watkins earlier this month; Dorsey & Whitney has announced plans to follow the same route.
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