After watching its competitors slash salaries all summer, King & Spalding has announced it will cut pay for associates, other salaried attorneys and consultants, effective Sept. 1. The firm announced the pay cut to its personnel late Thursday in a memo. Partner-track associates will have their base salaries reduced to last year's levels, and those in Atlanta and Charlotte, N.C., will take an additional $10,000 hit. The memo notes salaries for counsel, staff attorneys and consultants will be cut by 5 percent.
August 31, 2009 at 12:00 AM
1 minute read
The original version of this story was published on Law.Com
After watching its competitors slash salaries all summer, King & Spalding has announced it will cut pay for associates, other salaried attorneys and consultants, effective Sept. 1.
King & Spalding announced the pay cut to its personnel late Thursday in a memo from the firm’s chairman, Robert D. Hays Jr. “The economic turmoil has led to a reduction in demand for legal services and increased pressure on firms to reduce costs,” Hays wrote.
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