McGrigors has announced a large-scale cost-cutting programme that will see partners taking a reduced share of the firm's profits, staff agreeing to unpaid leave, and a firmwide salary freeze. The top Scots firm revealed today (8 May) that partners have agreed to take a 5% reduction in their annual base profit share, without receiving any additional leave to compensate for this. Outside of the partnership, the firm is asking all staff to take two weeks' unpaid leave at some point between June and the end of September - equating to a pay cut of around 5%. The firm is hoping that at least 85% will agree to the unpaid leave.
May 08, 2009 at 01:31 PM
1 minute read
The original version of this story was published on Legalweek
McGrigors has announced a large-scale cost-cutting programme that will see partners taking a reduced share of the firm’s profits, staff agreeing to unpaid leave, and a firmwide salary freeze.
The top Scots firm revealed today (8 May) that partners have agreed to take a 5% reduction in their annual base profit share, without receiving any additional leave to compensate for this.
Presented by BigVoodoo
Celebrate outstanding achievement in law firms, chambers, in-house legal departments and alternative business structures.
The African Legal Awards recognise exceptional achievement within Africa s legal community during a period of rapid change.
Law firms & in-house legal departments with a presence in the middle east celebrate outstanding achievement within the profession.
A large and well-established Tampa company is seeking a contracts administrator to support the company's in-house attorney and manage a wide...
We are seeking an attorney to join our commercial finance practice in either our Stamford, Hartford or New Haven offices. Candidates should ...
We are seeking an attorney to join our corporate and transactional practice. Candidates should have a minimum of 8 years of general corporat...
MELICK & PORTER, LLP PROMOTES CONNECTICUT PARTNERS HOLLY ROGERS, STEVEN BANKS, and ALEXANDER AHRENS
