Gide Loyrette Nouel has joined the list of law firms that are adopting cash-preserving measures to "ensure that business remains afloat" during the coronavirus crisis, the Paris-based firm said in a statement released Wednesday.

Describing the measures as "precautionary," Gide said it would reduce partner distributions this year by up to 25% on a sliding scale, with senior partners taking the deepest cuts and younger partners taking lesser or no cuts to their distributions.

But the Paris-based firm, which numbers 550 lawyers including around 100 partners, said it would not be cutting its legal and business services staff and would maintain salaries, raises and bonuses based on work performed in 2019.