Norton Rose Offers Staff Reduced Week, Defers Partner Pay and Bonuses
Norton Rose Fulbright is offering staff reduced working hours and pay for one year in response to the COVID-19 crisis, as well as deferring the payment…
April 02, 2020 at 12:32 PM
3 minute read
Norton Rose Fulbright is the latest firm to set up pre-emptive measures against disruption caused by the coronavirus. Credit: Mike Scarcella/ALM
Norton Rose Fulbright is offering staff reduced working hours and pay for one year in response to the COVID-19 crisis, as well as deferring the payment of partner distributions, staff salary rises and bonuses for both groups.
If 75% of eligible staff take up the reduced hours offer, which means they could be asked in the next 12 months to reduce their working hours and pay by 20%, the new programme will commence on April 20.
The sign-up process will take place during the next two weeks and is available to select staff across the firm's Europe, Middle East and Asia offices.
People at the lower end of the salary spectrum may also see a reduction in their working week by 20%, but their salary reductions will be lower, reduced down on a tapered basis from 20% to 5%, according to a firm statement.
EMEA managing partner Peter Scott said in the statement: "In this current crisis, we believe it is prudent to take pre-emptive action to protect our people and our business. The key for us is to ensure that we can respond rapidly to any future changes in levels and types of work at an unprecedented time for the global economy.
"We know this is a challenging time for all of our people and we want to safeguard jobs as far as possible. It is likely that not all parts of the business will be adversely affected by the current situation, so it is quite possible that employees who have signed up to the scheme in some parts of the business will not be required to reduce their working hours."
Norton Rose is the latest firm to attempt to mitigate the potential financial risks the outbreak is likely to cause. This week, Allen & Overy called for partners to invest capital into the firm in an effort to face the disruption caused by the virus.
Read more:
Lawyers Fear Billing Delays, Bonus Drops and Job Cuts Amid Virus Panic
Reed Smith Will 'Slow' Partner Pay In Response To COVID-19 Pressures
Big Four Legal Arm Head Says COVID-19 Will Change the Way Law is Practiced
NOT FOR REPRINT
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
You Might Like
View All
New Frontiers: Gaillard Banifatemi Shelbaya Launches in Cairo and Abu Dhabi
4 minute read
Travers Gives Holiday Bonus, Ropes & Gray Reduces Time Off Allowance
1 minute read
Japan’s Mori Hamada Joins Funder LCM for $150M Credit Suisse Bonds Claim
Law Firms Mentioned
Trending Stories
- 1Gibson Dunn Sued By Crypto Client After Lateral Hire Causes Conflict of Interest
- 2Trump's Solicitor General Expected to 'Flip' Prelogar's Positions at Supreme Court
- 3Pharmacy Lawyers See Promise in NY Regulator's Curbs on PBM Industry
- 4Outgoing USPTO Director Kathi Vidal: ‘We All Want the Country to Be in a Better Place’
- 5Supreme Court Will Review Constitutionality Of FCC's Universal Service Fund
Who Got The Work
Michael G. Bongiorno, Andrew Scott Dulberg and Elizabeth E. Driscoll from Wilmer Cutler Pickering Hale and Dorr have stepped in to represent Symbotic Inc., an A.I.-enabled technology platform that focuses on increasing supply chain efficiency, and other defendants in a pending shareholder derivative lawsuit. The case, filed Oct. 2 in Massachusetts District Court by the Brown Law Firm on behalf of Stephen Austen, accuses certain officers and directors of misleading investors in regard to Symbotic's potential for margin growth by failing to disclose that the company was not equipped to timely deploy its systems or manage expenses through project delays. The case, assigned to U.S. District Judge Nathaniel M. Gorton, is 1:24-cv-12522, Austen v. Cohen et al.
Who Got The Work
Edmund Polubinski and Marie Killmond of Davis Polk & Wardwell have entered appearances for data platform software development company MongoDB and other defendants in a pending shareholder derivative lawsuit. The action, filed Oct. 7 in New York Southern District Court by the Brown Law Firm, accuses the company's directors and/or officers of falsely expressing confidence in the company’s restructuring of its sales incentive plan and downplaying the severity of decreases in its upfront commitments. The case is 1:24-cv-07594, Roy v. Ittycheria et al.
Who Got The Work
Amy O. Bruchs and Kurt F. Ellison of Michael Best & Friedrich have entered appearances for Epic Systems Corp. in a pending employment discrimination lawsuit. The suit was filed Sept. 7 in Wisconsin Western District Court by Levine Eisberner LLC and Siri & Glimstad on behalf of a project manager who claims that he was wrongfully terminated after applying for a religious exemption to the defendant's COVID-19 vaccine mandate. The case, assigned to U.S. Magistrate Judge Anita Marie Boor, is 3:24-cv-00630, Secker, Nathan v. Epic Systems Corporation.
Who Got The Work
David X. Sullivan, Thomas J. Finn and Gregory A. Hall from McCarter & English have entered appearances for Sunrun Installation Services in a pending civil rights lawsuit. The complaint was filed Sept. 4 in Connecticut District Court by attorney Robert M. Berke on behalf of former employee George Edward Steins, who was arrested and charged with employing an unregistered home improvement salesperson. The complaint alleges that had Sunrun informed the Connecticut Department of Consumer Protection that the plaintiff's employment had ended in 2017 and that he no longer held Sunrun's home improvement contractor license, he would not have been hit with charges, which were dismissed in May 2024. The case, assigned to U.S. District Judge Jeffrey A. Meyer, is 3:24-cv-01423, Steins v. Sunrun, Inc. et al.
Who Got The Work
Greenberg Traurig shareholder Joshua L. Raskin has entered an appearance for boohoo.com UK Ltd. in a pending patent infringement lawsuit. The suit, filed Sept. 3 in Texas Eastern District Court by Rozier Hardt McDonough on behalf of Alto Dynamics, asserts five patents related to an online shopping platform. The case, assigned to U.S. District Judge Rodney Gilstrap, is 2:24-cv-00719, Alto Dynamics, LLC v. boohoo.com UK Limited.
Featured Firms
Law Offices of Gary Martin Hays & Associates, P.C.
(470) 294-1674
Law Offices of Mark E. Salomone
(857) 444-6468
Smith & Hassler
(713) 739-1250
