Law firms and pay-cuts - an uncomfortable, but necessary topic for most of us in the legal industry. Which local law firms have implemented cuts?
Ansa Search co-founder Shulin Lee shared her views with Kelly Ng in the Business Times.
- Law firms with strong Disputes, Restructuring & Insolvency (R&I) practices, tend to have greater leverage when the economy turns.
- WongP cut 5-10% across all seniorities till December.
- Dentons Rodyk cut salaries by removing the front-load component, for all staff, since April.
- A&G and R&T have remained silent.
- TSMP has cut 25% for partners.
- Kudos to these firms for taking pro-active measures to be prudent, amidst this crisis which still has no end in sight. Naturally, in the name of preserving jobs, we'd much rather endure short-term pay reductions.
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