Robinson & Cole Chops $10K Off Associate and Counsel Paychecks
Adding another name to a small but growing list of well-known law firms cutting attorney pay, Robinson & Cole has announced that all associate and counsel salaries will be reduced by $10,000, effective immediately.
Although it has been expanding in the in New England, the 240-attorney Northeast regional firm has been talking about pay cuts since last month, reports the Connecticut Law Tribune.
The pay cuts, some feel, are another signpost of a so-called paradigm shift in which law firms and attorneys competing for corporate business in a tough economic environment are going to have to learn to do more with less.
ABAJournal.com: “Last Month: 30 Layoffs; This Month: New R.I. Office for Robinson Firm”
ABAJournal.com: “BigLaw ‘Has Changed Forever,’ Says Womble Carlyle, Cutting Pay 10 Percent”