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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.

“We already have taken numerous steps to reduce costs that did not impact jobs. And while our financial foundation remains strong, we are implementing these new measures now out of caution,” said Seyfarth chair and managing partner Peter Miller.

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David Thomas

I'm a reporter covering the business of law, with an emphasis on national and global law firms for The American Lawyer, Law.com and other ALM publications.

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