Mayer Brown Cuts Nonequity Lawyer, Staff Salaries Amid Coronavirus Uncertainty
These cuts come on top of a 20% reduction in monthly draws and a distribution suspension for the first half of 2020 Mayer Brown's equity partners agreed to in March.
May 06, 2020 at 05:13 PM
3 minute read
Five months after closing 2019 with record-setting revenue, Mayer Brown on Wednesday announced plans to reduce salaries by 15% for nonequity lawyers and staff who make more than $200,000.
In a statement, the Chicago-based law firm disclosed that it had already reduced distributions for equity partners in March. Salaries for business services staff who earn less than $200,000 will see their pay reduced according to a graduated scale. The firm has also pushed back the start date for its U.S. associate class from fall 2020 to January 2021.
Mayer Brown had 1,356 associates and nonequity partners in 2019.
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