Dechert's top earners agree to take pay cut
Dechert has confirmed that the firm's 36 highest-paid partners have agreed to take a cut in their annual drawings, reports The Am Law Daily. The news follows a report that firm chairman Barton Winokur would take a $1m (£657,000) pay cut.The Philadelphia Inquirer report cited an anonymous source who said Winokur disclosed the "self-imposed" pay cut at a conference of law firm leaders he attended late last month in California.Winokur (pictured) declined to comment on the Inquirer report, but a firm spokeswoman confirmed that Winokur, along wth 36 other Dechert partners, are taking pay cuts. The spokeswoman denied that Winokur's reduction amounts to $1m.
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