Law Practice Management
'Kindest Cut' at Perkins Coie: Only 3.8% Pay Reduction, No More Layoffs Expected
In a firmwide voice mail today that provided what amounts to good news in the current economy, the managing partner of Perkins Coie announced that there will be an average pay cut of 3.8 percent for law firm associates, effective Sept. 1, but no layoffs are expected.
This is a “rather small” pay reduction in the BigLaw market right now and perhaps the “kindest cut” that has yet been made, given the expression of confidence that there will be no layoffs, recounts Above the Law. The legal tabloid says the voice mail was directly confirmed to ATL by Robert Giles, the firm’s managing partner.
The firm made relatively minimal layoffs of 12 lawyers and 26 staff in April, ATL notes.
