WolfBlock Cuts Associate Salaries by 10%, Promises More Bonus Money

WolfBlock is cutting associate salaries by 10 percent at the same time it is increasing cash to pay bonuses.

A spokesman for the East Coast law firm confirmed the pay cut but told Above the Law the additional bonus money will be used to make compensation more performance-based. The firm released this statement, according to the blog:

“We can confirm that associates will have a 10 percent reduction in base compensation prospectively. However, we have significantly increased the bonus pool for associates to make their overall compensation more performance-based.”

The firm reportedly laid off 15 associates in December; Above the Law had reports of additional layoffs on Tuesday but did not have confirmation of the rumors from the firm.