Seyfarth Shaw on Friday announced it was reducing equity partner draws, cutting salaries and furloughing 10% of its U.S. workforce, even as labor and employment practices are reportedly seeing more work due to the COVID-19 pandemic.
Starting May 1, all of Seyfarth’s non-equity lawyers in the U.S. will see their pay reduced by 10%. The firm is cutting salaries for staffers—the first $60,000 won’t be affected, but earnings between $60,000 and $150,000 will be cut by 5%. Anything a staffer makes past $150,000 will be cut by 10%. Equity partners, meanwhile, have seen their monthly draws reduced by 20% starting April 1.
