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.
For more insights on the legal market in the Asian landscape, feel free to get in touch with me at firstname.lastname@example.org.