Jones Day Memo Freezes Staff Pay, Asks Troops to Work Harder
Jones Day is freezing staff pay through June 30, 2010 and eliminating “year-end payments” and discretionary bonuses in 2009 in response to the dismal economy.
Meanwhile, the 2,400-attorney international firm also urges staff to work harder in an internal memo obtained by Above the Law.
“In this difficult economic environment, our clients expect us not only to continue our dedication to superior client service, but also to work to improve our effectiveness and efficiency. And that means that all of us need to continue to learn more and get better—to work toward being the best we can be at what we are asked to do,” the memo states. It urges each staff member to “to work with your supervisor, manager and assigned lawyers to use this year’s review as an opportunity for a constructive discussion about how to work better together.”
The memo also apologizes to staff for the disappointing news about their compensation and thanks them for their contributions to the firm.
