Five months after closing 2019 with record-setting revenue, Mayer Brown on Wednesday announced plans to reduce salaries by 15% for nonequity lawyers and staff who make more than $200,000.
In a statement, the Chicago-based law firm disclosed that it had already reduced distributions for equity partners in March. Salaries for business services staff who earn less than $200,000 will see their pay reduced according to a graduated scale. The firm has also pushed back the start date for its U.S. associate class from fall 2020 to January 2021.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
Not a Lexis Subscriber?
Subscribe Now
Not a Bloomberg Law Subscriber?
Subscribe Now
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]